Answer:
May 24
Dr Retained earnings $1,500
Cr Cash $1,500
Being cash dividend paid to shareholders.
October 11
Dr Advertising Expense $1,000
Cr Cash $1,000
Being cash payment for monthly advertising expenses.
Explanation:
Rules:
Debit side:
Increase in asset
Increase in expense
Decrease in liability
Decrease in equity
Decrease in income or sales
Credit side:
Decrease in asset
Decrease in expense
Increase in liability
Increase in equity
Increase in income or sales
May 24
Dr Retained earnings $1,500
Cr Cash $1,500
Being cash dividend paid to shareholders.
October 11
Dr Advertising Expense $1,000
Cr Cash $1,000
Being cash payment for monthly advertising expenses.
It should be noted that corporate officers have the implied power to bind the firm in matters directly connected to its business.
<h3>Who are corporate officers?</h3>
corporate officers serves as those workers in a company or an organization who are seen as officials and they have allocated duties and responsibilities .
These officers posses the power to bind the firm in matters directly connected to its business.
Learn more about corporate officers at,;
brainly.com/question/24518056
Answer:
b. False
Explanation:
The difference between absorption costing net operating income and variable costing net operating income lies in the <em>fixed costs deferred in closing inventory</em>.
If Production is greater than Sales - <u>Increase in Finished Goods Inventory</u>, Absorption costing net operating income will typically be greater than Variable costing net operating income.
However, If Production is less than Sales - <u>Decrease in Finished Goods Inventory</u>, Absorption costing net operating income will typically be less than Variable costing net operating income.
Answer:
<u>Generally accepted accounting principles</u>
Explanation:
Generally accepted accounting principles abbreviated as GAAPs , refer to set of accounting rules and principles to ensure clarity, consistency of reported information and to enhance reliability and comparability of accounting information.
GAAPs were prescribed by Financial Accounting Standard Board (FASB) of the United States. The accountants of public companies in United States are supposed to abide by GAAP principles while compiling accounts and preparing financial statements.
Thus, GAAPs lay emphasis upon presenting financial information which is relevant to the shareholders, which is true and can be relied upon , which is consistent and which can be compared to deduce past trends and for forming opinions and arriving at conclusions.
Answer:
Price of unibic, preference for other glucose biscuits, and inadequate marketing and branding campaigns had a negative impact on the financial performances of unibic in its early years
Explanation:
The three factors that negatively impacted the financial performances of unibic in its early years were as follows
a) The price of Unibic cookies was higher as compare to its other competitors.
b) During those days, glucose biscuits were preferred as compared to bakery cookies of Unibic
c) Packaging, branding and marketing not as per the public requirement
