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svetlana [45]
3 years ago
5

Mirembe is interested in receiving income to help save money for her grandson's college education. She is considering investing

in the stock of a fast-growing technology company that is promising a rather high dividend rate to shareholders. One thing it will be helpful for Mirembe to remember is
a. that dividends are always based on the prevailing market price of the stock.b. the dividend rate of a company cannot be changed once it is set.c. fast-growing companies are rather secure investments to purchase.d. the company does not have a legal obligation to pay dividends when promised.
Business
1 answer:
riadik2000 [5.3K]3 years ago
6 0

Answer:

D) the company does not have a legal obligation to pay dividends when promised.

Explanation:

No corporation has a legal obligation to distribute dividends to common stock shareholders, even if they make a lot of money, or they have a lot of cash available. The only thing shareholders can do to change a corporation's dividend distribution policy is to elect a new board of directors.

In Mirembe's case I doubt that she has enough money for to board to pay attention to her. If Mirembe really needs an annual return, then she should invest her money in bonds.

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This year, the Tastee Partnership reported income before guaranteed payments of $161,500. Stella owns a 40% profits interest and
Aloiza [94]

Answer

The answer and procedures of the exercise are attached in the image below.  

Explanation  

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3 years ago
Ezra runs a gyro stall at a farmers market
olga nikolaevna [1]
The rest of the question?
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3 years ago
On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,300; Land, $73,000; Deferred R
Aleksandr [31]

Answer:

Red Flash Photography

a. Journal Entries:

1. Feb. 15:

Debit Cash $33,000

Credit Common Stock $33,000

2. May 20:

Debit Cash $48,000

Debit Accounts Receivable $43,000

Credit Service Revenue $91,000

3. Aug. 31:

Debit Salaries Expense $36,000

Credit Cash $36,000

4. Oct. 1:

Debit Prepaid Rent $25,000

Credit Cash $25,000

5. Nov. 17:

Debit Supplies $35,000

Credit Account Payable $35,000

6. Dec. 30:

Debit Dividends $3,300

Credit Cash $3,300

b. Adjusting Journal Entries:

a. Debit Salaries Expense $5,300

Credit Salaries Payable $5,300

b. Debit Rent Expense $6,250

Credit Prepaid Rent $6,250

c. Debit Supplies Expense $38,000

Credit Supplies $38,000

d. Debit Deferred Revenue $6,300

Credit Service Revenue $6,300

c. Income Statement for the year ended December 31, 2022:

Service Revenue                      $97,300

Salaries Expense      41,300

Rent Expense            6,250

Supplies Expense   38,000

Dividends                  3,300    $88,850

Net Income                               $8,450

d. Statement of Stockholders' Equity

For the year ended December 31, 2022:

Common Stock                          $96,000

Beginning retained earnings       38,000

Net Income                                     8,450

Dividends                                      (3,300)

Ending Equity                           $139,150

Explanation:

a) Data and Calculations:

Trial balance

Account Titles             Debit    Credit

Cash                       $25,000

Supplies                   $9,300

Land                       $73,000

Deferred Revenue                 $6,300

Common Stock                    $63,000

Retained Earnings               $38,000

Totals                 $107,300 $107,300

Analysis of Transactions:

1. Feb. 15: Cash $33,000 Common Stock $33,000

2. May 20: Cash $48,000 Accounts Receivable $43,000 Service Revenue $91,000

3. Aus. 31: Salaries Expense $36,000 Cash $36,000

4. Oct. 1: Prepaid Rent $25,000 Cash $25,000

5. Nov. 17: Supplies $35,000 Account Payable $35,000

6. Dec. 30: Dividends $3,300 Cash $3,300

Adjustments:

a. Salaries Expense $5,300 Salaries Payable $5,300

b. Rent Expense $6,250 Prepaid Rent $6,250

c. Supplies Expense $38,000 Supplies $38,000 ($9,300+35,000-6,300)

d. Deferred Revenue $6,300 Service Revenue $6,300

T-accounts:

Cash

Account Titles             Debit      Credit

Beginning balance    $25,000

Common stock            33,000

Service Revenue         48,000

Salaries                                      $36,000

Prepaid Rent                               25,000

Dividends                                      3,300

Ending balance                           41,700

Prepaid Rent

Account Titles             Debit    Credit

Cash                       $25,000

Rent Expense                         $6,250

Ending balance                       18,750

Accounts Receivable

Account Titles             Debit    Credit

Service Revenue    $43,000

Supplies

Account Titles             Debit      Credit

Beginning balance    $9,300

Accounts payable     35,000

Supplies Expense                     $38,000

Ending balance                           $6,300

Land

Account Titles             Debit      Credit

Beginning balance    $73,000

Deferred Revenue

Account Titles             Debit      Credit

Beginning balance                  $6,300

Service Revenue        $6,300

Accounts Payable

Account Titles             Debit    Credit

Supplies                                 $35,000

Salaries Payable

Account Titles             Debit    Credit

Salaries expense                   $5,300

Common Stock

Account Titles             Debit      Credit

Beginning balance               $63,000

Cash                                        33,000

Ending balance        $96,000

Retained Earnings

Account Titles             Debit      Credit

Beginning balance               $38,000

Service Revenue

Account Titles             Debit    Credit

Cash                                      $48,000

Accounts Receivable              43,000

Deferred Revenue                    6,300

Income Summary   $97,300

Salaries Expense

Account Titles             Debit    Credit

Cash                        $36,000

Salaries Payable         5,300

Income Summary                 $41,300

Rent Expense

Account Titles             Debit    Credit

Prepaid Rent            $6,250

Income Summary                 $6,250

Supplies Expense

Account Titles             Debit    Credit

Supplies                 $38,000

Income Summary                 $38,000

Dividends

Account Titles             Debit    Credit

Cash                         $3,300

Retained earnings                  $3,300

Adjusted Trial Balance

Account Titles               Debit      Credit

Cash                          $41,700

Prepaid Rent               18,750

Accounts receivable 43,000

Supplies                      6,300

Land                          73,000

Accounts payable                      $35,000

Salaries payable                             5,300

Common Stock                            96,000

Retained earnings                       38,000

Service Revenue                         97,300

Salaries Expense      41,300

Rent Expense            6,250

Supplies Expense   38,000

Dividends                  3,300

Totals                  $271,600     $271,600

7 0
3 years ago
Amanda doesn't know what it means to implement a CSR<br> strategy. What do you tell her?
Anastasy [175]

<u>Explanation:</u>

All the business enterprise should involve in doing community service.  CatsCafé in Ontario can enjoy the benefits of CSR activities. Activities that are possible with the available resources at cafe can be used to perform CSR such as donating food to the underprivileged.

You can make CSR as an regular day to day activity at a cafe. When there is excess food cooked for any event or party orders need not be wasted instead can be donated for people in need.

Communication is a key to involve all the 16 employees of the cafe into CSR activities. Employee support through volunteering is important to perform CSR.

As it is a united mission this brings unity among the employees. When information spreads to outsiders they join hands for CSR and the brand image of Cafe will improve in local society.

Promote CSR activities with images and posters of employees volunteering in these activities will increase visibility of the Cafe.

6 0
3 years ago
Rumpelstiltskin, an imp in a Grimm Brothers fairy tale, could spin straw into gold. We would call this a(n) a. capability. b. ta
Murrr4er [49]

Answer:

a. capability

Explanation:

Rumpelstiltskin, an imp in a Grimm Brothers fairy tale, could spin straw into gold. We would call this a capability.

4 0
3 years ago
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