Answer: $57,600
Explanation:
Accounting works by the Accrual basis. What this means is that transactions are recorded in the period they occur not in the period they are paid for.
In the above, Lee Inc. billed its customers $57,600 for services performed during the year. This is a service company and since their revenue comes from billings, this is their revenue for the year.
It does not matter that some of the services have not been paid for, it matters that the services were performed during the year.
Answer:
1. $28,800
$103,200
2. $28,800
$103,200
3. $86,400
$45,600
Explanation:
1. The dividend paid to preferred stockholders = Shares × Par value × Percentage
= 3,000 shares × $120 × 8%
= $28,800
The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders
= $132,000 - $28,800
= $103,200
2. The dividend paid to preferred stockholders = Shares × Par value × Percentage
Note :- Because preferred stocks are non-cumulative in nature, the company is not allowed to pay last two years' dividends and preferred stocks are liable for payment only for the current year.
= 3,000 shares × $120 × 8%
= $28,800
The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders
= $132,000 - $28,800
= $103,200
3. The dividend paid to preferred stockholders = Shares × Par value × Percentage × Number of years
Note: Since preferred stocks are cumulative in nature, the company is forced to pay last two years' dividends along with the current year's dividend.
= 3,000 shares × $120 × 8 % × 3 years
= $86,400
The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders
= $132,000 - $86,400
= $45,600
Central Banks, Retail Banks, Commercial Banks, Shadow Banks, Investment Banks, Cooperative Banks, Credit Unions.
Answer:
The method the parent use will have no effect on consolidated total because it is only for internal reporting purpose.
Explanation:
Paar's equipment book value—12/31/15 of $294,000
Add Kimmel's equipment book value—12/31/15 of $190,400
Add Original acquisition-date allocation to
Kimmel's equipment of ($400,000 − $272,000) = $128,000
Less Amortization of Allocation
($128,000/10 years * 3 years) = ($38,400)
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Equals Consolidated Equipment of $574,000
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The method the parent use will have no effect on consolidated total because it is only for internal reporting purpose.
Answer:
Buyers opportunity cost for non genetically modified food was alternative food available before 2008
Explanation:
opportunity cost simply means cost of alternative forgone. Example if one purchases a car and utilizes for a taxi, his opportunity cost could be the value he would have received for his investment if he had bought a truck and used it for loading cement for building projects. We apply this to the question above and so the opportunity cost is alternative of non genetically modified food available that would have been bought before 2008
