Answer:
$1,500
Explanation:
The computation of the amount of dividend for a preference shareholder is shown below:
Dividend per year is
= (100 shares × $100 par) × 5%
= $500
As the preferred stock is cumulative, so the holders would receive past dividends i.e not distributed
From 2019 = $500
From 2020 = $500
From 2021 = $500
Total $1,500
Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
<h3>What is meant by current liability?</h3>
This is the term that is used to refer to all of the financial obligations that the customer would have to have due to themselves in the long run. These are the liabilities that are known to be dropped in the current assets and would then be settled in the course of a year.
Hence we can say that Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
Read more on Current liabilities here: brainly.com/question/28039459
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The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900
Explanation:
- Entertainment Tonight, Inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. Entertainment Tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. The total transaction price for the sale of the stereo system and the extended warranty is $3,000. The standalone price of each is $2,300 and $900, respectively. The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900.
- Unearned extended warranty revenue is given to be as an unearned revenues in accrued liabilities in the balance sheets.
- Revenue which comes from separately priced, self-insured service contracts is reffered at the point of sale.
- Unearned revenue is a money which is received from a customer for work that has not been performed still.
Answer:
4. intangible assets.
Explanation:
Total assets are classified into current assets, fixed assets, and intangible assets.
Current assets comprise cash, stock, receivable account, etc.
Fixed assets include plant & machinery, property, facilities, furniture & equipment, etc.
And, the intangible assets are patents, copyrights, goodwill, and other intellectual properties plus they are not seen or even touched.
Whereas the fixed assets or other related synonymous are tangible in nature
