Answer:
A. Dividends 11,700 Dividends Payable 11,700
Explanation:
The journal entry to record the dividend declared is shown below:
Dividend A/c Dr $11,700
To Dividend payable $11,700
(Being the dividend is declared)
The computation is shown below:
= (Number of shares issued - treasury stock) × cash dividend per share
= (20,000 shares - 7,000 shares) × $0.90
= 13,000 shares × $0.90
= $11,700
<span>It would be: $3 million ($10 million in cost less $7 million in payment)</span>
Answer:
400,000
Explanation:
7% of what number = 28,000
(0.07)(X) = 28,000
X = 400,000
(which is less than 700,000. But that makes sense because not everyone living in Michael's city is necessarily part of the labor force. Some could be kids in school, others grandparents who have retired, others people who stay at home and don't work.)
Answer:
The totals of Trial balance have a difference of $8,000. The credit balance totals of Trial balance is higher than the debit totals because the original entry of debit is mission and there is an wrong posing on the credit side which reduce the debit balance by $4,000 and Increase the credit balance by $4,000 at the same time. Net effect will be $8,000 in totals of trial balance.