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Ad libitum [116K]
2 years ago
8

Norris Company declared cash dividends of $60,000 during the year. Cash dividends payable were $20,000 at the beginning of the y

ear and $25,000 at the end of the year. The amount of cash Norris Co. used for payment of dividends during the year was
a. $65,000

b. $55,000

c. $105,000

d. $80,000
Business
1 answer:
Studentka2010 [4]2 years ago
4 0

Answer:

b. $55,000

Explanation:

The movement in the dividend payable account which represents the difference between the payable opening an closing balances. This difference is due to dividend paid during the year as well as dividend declared and can be shown by the equation below.

Opening balance + Declared dividend -  dividend paid = closing dividend

$20,000 + $60,000 -dividend paid = $25,000

Dividend paid = $20,000 + $60,000 - $25,000

= $55,000

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Bonds issued in the names and addresses of their holders are called: Multiple Choice Callable bonds. Serial bonds. Registered bo
CaHeK987 [17]

Bonds issued in the names and addresses of their holders are called:  Registered bonds.

<h3>What is  Registered bonds?</h3>

Registered bonds are be defined as the type of bonds in which a  a person owning a bond information or details are  registered or recorded with the party that issued it.

In registered bonds the  registered holder  must tend to notify or inform  the issuer of  the bond whenever their is change in ownership.

Therefore Bonds issued in the names and addresses of their holders are called: Registered bonds.

Learn more about Registered bonds here:brainly.com/question/11882834

7 0
2 years ago
Which of the following is not a likely reason that specific password requirements, such as length, the use of special characters
lions [1.4K]

Answer:

D) Policies are not typically concerned with broad topics such as IT security and passwords.

Explanation:

A company's policies may concern a lot of issues, ranging from very broad and general issues to more specific issues, e.g. like corporate governance, employee conduct, compensation policies, organizational structure, equal opportunity policies, substance abuse, etc., and of course they can include topics like IT security and passwords.

8 0
3 years ago
Assume a single taxpayer is taxed at 10% on the first $9,275 of taxable income, 15% on the next $28,375 of income, and at 25% fo
Ksenya-84 [330]

Answer:

14.93%

Explanation:

Given:

For taxable income $9,275, tax rate = 10%

For taxable income $28,375, tax rate = 15%

For taxable income $53,500, tax rate = 25%

Now,

Tax on income =  tax rate  × taxable income

thus,

Total Tax on first $9,275 = $9,275 × 10% =  $927.5

and,

Total tax on next $28,375 = $28,375 × 15% = $4,256.25

Therefore, the total income that has been taxed till the $9,275 + $28,375

= $37,650.

and, the amount left to be taxed = $42,000 - $37,650 = $4,350

Thus,

Tax on remaining $4,350 = $4,350 × 25% = $1,087.5

Total tax = $927.5  + $4,350  + $1,087.5  = $6,365

Therefore,

The average tax rate = \frac{\textup{Total tax}}{\textup{Taxable income}}\times100

or

The average tax rate = \frac{6,365}{42,000}\times100

or

Average tax = 14.93%

6 0
3 years ago
Several years ago, Tamika Company issued bonds with a face value of $603,000 at par. As a result of declining interest rates, th
juin [17]

Bond retirement is also known as bond reimbursement. The equalization will be repaid with interest on the reimbursement date.

<h3>When recording bond retirements, use a discount account:</h3>

Bonds are assumed to be worth $603,000, and their current book value is estimated to be $645,210. T will be paid back with a 7% premium. $42,210 is the total ($603,000 x 7%). The bond guarantor must give the investor $65,210 ($603,000 + $42,210) on the date of reimbursement. The $42,210 excess payment should be viewed as bad luck for the bond call.

<h3>Here are the journal entries to reflect bond retirement:</h3>

Bonds payable are debited by $603,000

Debit: $42,210 is the loss on bond call.

Citation: Cash $642,210 = [$603,000 x (1 + 0.07)]

To know more about bond reimbursement  visit: brainly.com/question/28198103

#SPJ4

7 0
11 months ago
According to ronald reagan and william
forsale [732]

<span>provide revenues for the government to use for legitimate purposes.</span>

<span>
</span>

<span>
</span>

<span> Please mark Brainliest.</span>


7 0
3 years ago
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