All categories

4 years ago

The amount of earnings distributed to stockholders can be found in the income statement.

Business

1 answer:

evablogger [386]4 years ago

3 0

Answer:

Unearned membership revenue of $9,000

Explanation:

The sales on credit during January 2017 was valued at $12,000 ($200 x 60).

In March 2017, customers paid $3,000, leaving the balance of $9,000 outstanding.

Since the season for which sales and collections were made starts March 1, 2017, when reporting the financial statements for the period ending March 31, 2017, the Membership Revenue would be $3,000 only and the balance $9,000 would be reported as Unearned Membership Revenue in the Balance Sheet with a further $9,000 reported in the Accounts Receivable to balance the records.

This shows that Unearned Membership Revenue of $9,000 is the only valid statement.

You might be interested in

"partnerships are the most common type of business firms in the world"

Ulleksa [173]

Partnerships are the most common type of business firms in the world.
False

3 0

3 years ago

The project will need an initial investment of $1,200,000 and will generate $600,000 (after-tax) cash flows for three years. How

Komok [63]

Answer:

6.53%

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated using a financial calculator

Cash flow in year 0 = $-1,200,000

Cash flow each ueaar from year 1 o 3 = $600,000

Cash flow in year 4 = $-500,000

IRR = 6.53%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

3 0

3 years ago

An employee who reports organizational misconduct to the public is known as a(n) _____.

ivann1987 [24]

An employee who reports organizational misconduct to the public is known as a(n) <u>whistleblower.</u>

<u />

<h3>Who is a whistleblower?</h3>

A whistleblower can be defined as the person that report or disclose any form of misconduct or inappropriate act to the right authority.

Example a whistleblower can report fraudulent act , illegal act or behavior in a work environment so as to put an end to the fraudulent and illegal act.

Therefore An employee who reports organizational misconduct to the public is known as a(n) <u>whistleblower.</u>

<u></u>

Learn more about whistleblower here:

brainly.com/question/28118511

brainly.com/question/3520729

#SPJ1

3 0

1 year ago

Flexible Budgeting

Ghella [55]

Answer and Explanation:

The calculation is given below:

Fabricating department

The budgeted cost is

= $9,280 ÷ 640 hours × 600 hours + $2,300

= $8,700 + $2,300

= $11,000

Grinding department

= $159,600 ÷ 7,600 hours × 9,500 hours + $56,000

= $199,500 + $56,000

= $255,500

In this way the budgeted cost should be determined

3 0

3 years ago

Kingbird Corporation factors $275,100 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kath

neonofarm [45]

Answer:

August 15, 2020

Dr Cash $258,594

Dr Due from factor $11,004

Dr Loss on sale of receivables $9,172

Cr Accounts receivable $275,100

Cr Recourse liability $3,670

Explanation:

Preparation of the journal entry on August 15, 2020, for Kingbird to record the sale of receivables

August 15, 2020

Dr Cash $258,594

($275,100+$3,670-$9,172-$11,004)

Dr Due from factor $11,004

Dr Loss on sale of receivables $9,172

Cr Accounts receivable $275,100

Cr Recourse liability $3,670

(Being to record the sale of receivables)

Calculation for Due from factor

Due from factor = $275,100 * 0.04

Due from factor = $11,004

Calculation for Loss on sale of receivables

Loss on sale of receivables = ($275,100 * 2%) + $3,670

Loss on sale of receivables = $5,502 + $3,670

Loss on sale of receivables = $9,172

5 0

3 years ago