Answer:
Bank A/c Dr $63,000
To Notes Payable $63,000
(Being the issuance of the installment note for cash is recorded)
Explanation:
The journal entry is shown below:
Bank A/c Dr $63,000
To Notes Payable $63,000
(Being the issuance of the installment note for cash is recorded)
For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited
Answer:
False
Explanation:
In the case when the tax burden increased so the role of the auditor is to audit the financial statements of the company and based on this they given the opinion that could be either favorable or unfavorable also they look into the operational effectiveness and efficiency but the role of the auditor is not increasingly important as for the tax purpose the tax accountant should be considered such as Chartered accountant, etc
Answer:
1. <em>Holders of the stock are entitled to receive current and all past dividends before common stockholders receive any dividends</em> - Cumulative Shares
Holders of Cumulative Shares will always receive the dividends owed to them because even if they do not get it in a particular period, the dividends will accrue until the company is able to pay them.
2. <em>Holders of the stock can receive dividends exceeding the stated rate under certain conditions - </em>Participating Shares
Participating Shareholders are eligible to receive an extra dividend provided that there is surplus profit after all the other dividends have been paid off.
<em>3. Holders of the stock are not entitled to receive dividends in excess of the stated rate. - </em>Non- Participating Shares
Even if there are surplus profits after all other dividends have been paid off, these holders are not entitled to that profit.
<em>4. Holders of the stock lose any dividends that are not declared in the current year - </em>Non- Cumulative Shares
If their dividend is not declared in a certain period, they will forfeit that dividend for the period.
The depreciation expense will be credited for $750 in the consolidating entries while preparing the 20X8 consolidated income statement,
<h3>What is the
depreciation expense?</h3>
This refers to the cost of an asset that has been depreciated for a single period such as in that year.
Depreciation expense = Cost - Salvage value / Useful life
Depreciation expense = $36,000 - $33,000 / (2 years (semi-annual charges)
Depreciation expense = $3,000 / 4
Depreciation expense = $750
Therefore, the depreciation expense will be credited for $750 in the consolidating entries while preparing the 20X8 consolidated income statement,
Read more about depreciation expense
<em>brainly.com/question/25785586</em>
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Answer
False
Explanation
You are still giving her the 25% not him
