Answer: $428,000
Explanation:
Given that,
Accounts payable = $62,000
Accounts receivable = 100,000
Cash = 30,000
Inventory = 138,000
Land = 160,000
Common Stock = 200,000
Revenue = 80,000
Dividends = 56,000
Expenses = 40,000
Total assets = Accounts receivable + Cash + Inventory + Land
= 100,000 + 30,000 + 138,000 + 160,000
= $428,000
Answer:
the dividend revenue account is credited
Explanation:
As we know that the dividend is the company profit that is divisible and the same is to be issued to the shareholder with respective to the number of shares purchased
In the case when Yale Co. paid the dividend so here the dividend revenue account is credited in the case when the company received the dividend
Hence, the dividend revenue account is credited
Answer:
A detailed list of the accounts that make up the five financial statement elements.
Explanation:
The company's chart of accounts is the listing of all the accounts that the company has included as part of the five financial statement elements during a specific period of time.
The five financial statement elements are: assets, liabilities, equity (part of the balance sheet), expenses and revenues (part of the income statement).
Examples of accounts that can be part of a firm's chart of accounts are: land (asset), cash (asset), notes payable (liabilities), outstanding stock (equity), operating expenses (expenses), and sales revenue (revenues).
The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.
Answer:
Loss on the retirement of $4,750
Explanation:
The following have the effect on the income statement which is a loss on the retirement and it amounts to $4,750
It is computed as:
Loss on retirement = Retirement value of the bonds - Issued price of the bonds
= $71,150 - $66,400
= $4,750
Working Note:
Issued Price of bonds = Face value - Discount on bonds payable
= $70,000 - $3,600
= $66,400
Answer:
The correct answer is letter "C": Orientation.
Explanation:
The primary organization-specific factors are <em>orientation, size of the organization, </em>and<em> degree of centralization</em>. Orientation <em>refers to the function of a company that controls the decisions in regards to purchases</em>. The size of the organization implies decision making will be more centralized in larger firms while more decentralized in smaller firms. Finally, the degree of centralization states that even in highly autonomous corporations, some purchases might be subject to the approval of a manager who confirms the need for the assets being acquired.
<em>Because in Anchor Inc. the purchase decisions are made by engineers the orientation organization-specific factor is more relevant in that company</em>.
