$250,000
$1,458 x 12
Months = 17,496
17,496/0.07
=$249,942
Answer:
(a) Bank Reconciliation statement:
Bank's cash balance:
= Per bank statement + Deposits outstanding - Checks outstanding
= $22,346 + $1,725 - $1,300
= $22,771
Therefore, bank balance per reconciliation is $22,771.
Company's cash balance:
= Per general ledger - service fees
= $22,810 - $39
= $22,771
Therefore, company balance per reconciliation is $22,771.
(b) Journal entry to adjust balance for cash is as follows:
Bank service charge expense A/c Dr. $39
To Cash A/c $39
(To record bank service charge)
Answer:
$71,500
Explanation:
Given that,
Preferred stock = 9,700 shares of $100 par value
Common stock outstanding = 38,800 of $1 par value
Total dividend declared and paid in 2018 worth of $120,000.
Firstly, we need to calculate the preferred stock dividend:
= 9,700 × $100 × 5%
= $48,500
Now, the amount of dividend available to common stockholder is determined by deducting the preferred stock dividend from the total dividend paid.
Amount of dividends received by the common stockholders in 2018:
= Total dividend paid -Preferred stock dividend
= $120,000 - $48,500
= $71,500
Target posted final quarter income of $21.5 billion. This brought income of about 81 pennies for every share. But the examiner <span>agreement was calling for income of 80 pennies for each share</span>. So, with 81 pennies for every share the examiner agreement was beated.
The best and most correct answer among the choices provided by your question is the second choice or letter B. They could put up a partnership which <span>might best suit their growth.
</span>
A partnership<span> is a single business where two or more people share ownership. Each </span>partner<span> contributes to all aspects of the business, including money, property, labor or skill. In return, each </span>partner<span> shares in the profits and losses of the business.</span>
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