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Ad libitum [116K]
3 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]3 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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The correct answer that would best complete the given statement above is the word JOB ENRICHMENT. Here is the complete statement. <span>When one department store authorized thousands of its sales clerks to handle functions normally reserved for store managers, such as handling merchandise-return problems and approving customers' checks, they gave them more responsibility. This is a job enrichment technique. Hope this helps.</span>
3 0
3 years ago
A manufacturing company is considering a capacity expansion investment at the cost of $258,388 with no salvage value. The expans
Jobisdone [24]

Answer:

33,610.42  units

Explanation:

For computing the minimum annual production rate first we have to determine the annual worth by using the PMT formula which is shown below:

Given that

Present value = $258,388

Interest rate = 10%

NPER = 7 years

Future value = $0

The formula is shown below:

= PMT(RATER;NPER;-PV;FV;type)

The present values comes in a negative

After solving this, the annual worth is $53,074.32

And, the annual operating maintenance cost is $28,599

So, the revenue should be

= $53,074.32 + $28,599

= $81,673.32

Now the minimum annual production rate is

= $81,673.32 ÷ $2.43

= 33,610.42  units

4 0
3 years ago
The three main sources of international law include all of the following but
evablogger [386]
First and last I just took the test
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TransWave International is a company that markets patented electronic sensors as an early warning device for locating potential
frozen [14]

Answer:

The right option is option C. Team selling

Explanation:

The scenario above shows how TransWave International using team selling

Team selling is a group of people representing the sales department and other functional areas in the firm. The idea behind the concept is that teamwork and sharing knowledge can benefit the bottom line of a firm. It is a sales strategy that involves two-plus members of an organization working together to win business.  

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3 years ago
A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method,
Nookie1986 [14]

Answer: $3,708

Explanation:

Using FIFO means that the earlier goods are sold before the later ones so the closing inventory would have the latest goods purchased.

If there are 180 units on hand, the cost would be:

  • 54 units purchased at $22
  • (180 - 54) units purchased at $20

Closing inventory is:

= (54 * 22) + ( (180 - 54) * 20)

= (54 * 22) + ( 126 * 20)

= $3,708

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3 years ago
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