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ololo11 [35]
3 years ago
8

Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Rick Co.'s Board of Direc

tors declared and distributed a 1% common stock dividend when the market value of its common stock was $60 per share. In recording this transaction, Rick would:
Business
1 answer:
Pie3 years ago
8 0

Answer:

The journal entry is as follows:

Retained earnings A/c Dr. $18 million

        To common stock                        $0.30 million

        To capital paid in excess A/c      $17.70 million

(To record the stock dividend issued at 1%)

Working notes:

Shares issued = 1% of 30 million

                        = 0.30 million

Retained earnings:

= 0.30 million × $60 per share

= $18 million

Common stock:

= 0.30 million × $1 par value

= $0.30 million

Capital paid in excess:

= Retained earnings - Common stock

= $18 million - $0.30 million

= $17.7 million

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The variable overhead efficiency variance uses exactly same inputs as direct labor efficiency variance statement regarding the variable overhead variance analysis is true.

<h3>What is variable overhead?</h3>

The varying production costs a business incurs while operating are referred to as "variable overhead." As industrial output changes, so do variable overhead expenses. Different from variable overhead are the general expenditures associated with administrative tasks and other operations that have predetermined budgetary requirements. Organizations need to understand variable costs clearly in order to prevent overspending, which can reduce profit margins. They will be able to precisely set prices for future products thanks to this. For businesses to succeed and stay in operation, they must invest money in the development and promotion of their goods and services. The term "overhead" refers to all costs related to operating a firm, such as managers, salespeople, and marketers for both the corporate office and the manufacturing plants.

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Answer:

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Explanation:

3 0
3 years ago
7. Another example of opportunity cost is a company's cost of capital. Suppose a manufacturer wants to add
vredina [299]

Answer:

You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.

Explanation:

alternative 1, build and sell microwave ovens:

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alternative 2, invest in US securities:

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If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.

Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.

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