Answer:
E) $45,375
Explanation:
This is because Authorized shares are the total shares that the company can issue.
There is a difference between issued and outstanding shares of 500 shares, this may be because these shares are currently held by the company itself and thus dividends are payable only on outstanding shares
This gives us 27,500 * 1.65 = $43,375
Answer:
b) a debit to Depletion Expense for $175,000
Explanation:
The computation of the depletion expense is shown below:
Depletion expense = (Purchase of mining rights × current year mined tons of ore) ÷ (expected harvested tons of ore)
= ($500,000 × 350,000 tons) ÷ (1,000,000 tons)
= $175,000
So the journal entry would be
Depletion Expense A/c Dr $175,000
To Accumulated Depletion A/c $175,000
(Being the depletion expense is recorded)
Answer:
The internet has enabled companies to promote their business with listing key factors and market their products with special highlights.
Explanation:
Earlier businesses used to promote their products by door to door marketing. In this era of technology and advancement the business focus on distinct features of their product and promote the products by highlighting those distinct features which other products does not have. Consumers are impressed with the presentation style and it is easier for them to view the complete product details by sitting at home through internet.
Answer:
Carol is personally liable for her mistake, and not Dave. Carol was negligent while Dave was not negligent.
Explanation:
Limited liability partnerships offer the advantage of being able to structure the business as a general partnership but liability is not shared by the partners. This is very important specially for some specific trades like accounting, medicine, law, engineering, etc., were liability can be a very serious issue that ranges form small fines to hefty lawsuits.
