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2 years ago

Clayborn Company' bank reconciliation as of May 31 is shown below.

Business

1 answer:

Gwar [14]2 years ago

3 0

Answer:

d) A credit to Cash of $600

Explanation:

The adjusting journal entries are shown below:

Bank service fees expense $25

To Cash $25

(Being bank service charge expensed)

Here the expenses is debited as it increased the expenses and credited the cash as it decreased the asset

Accounts Receivable $600

To Cash $600

(Being NSF returned is recorded)

Here the account receivable is debited as it increased the assets and credited the cash as it decreased the asset

So option d is correct

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Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate

Nady [450]

Answer and Explanation:

Net Operating loss carryback Amount Rate of Tax Tax Recorded as

Carried back - 2014 $0.0 30% $0.0

Carried back - 2015 $0.0 30% $0.0

Carried back - 2016 $42,000 35% $14,700.0

Carried back - 2017 $8,000.0 40% $3,200.0

Total Carryback $50,000.0 $17,900.0

Journal Entries - Cabot Company

Date Particulars Debit Credit

31-Dec-18 Receivables - Income Tax Refund $17,900

To Income tax benefit - Net Operating Loss $17,900

2. Cabot's net loss for 2018 = -$50,000 + $17,900

= ($32,100)

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2 years ago

If a business person wants to get information about a special product to a wide variety people across a large geographic range,

Westkost [7]

Answer: Internet.

Explanation:

The internet is the fastest way a business can advertise it's products to a global audience. The internet is a wireless interconnection of computers across the Earth, where communication is made easier and information is shared.

4 0

3 years ago

Kate also wishes to pay dividends on both her common shares and the preferred stock. She is a little confused between cash and s

11111nata11111 [884]

Find the answers in the explanation below

Explanation:

Cash dividend: Cash dividend is dividend that is paid in cash to shareholders in the event that the company or firm does not need the money for any kind of operation. This means that the company is giving economic value to its shareholders. This transfer of economic value to shareholder means that the shares price of the company will drop. An example is a company having a share dividend of 5%. That means that the price of the company shares will fall by 5%.

Stock dividend: Stock dividend unlike cash dividend is increase stock dividend as well as help stockholders to avoid tax. This subsequently does not increase the value of the company. For example, if stock dividend of a company is 5% and as much as 1 million shares, when stock dividends are declared the stockholder gets extra of 50,000 shares. The stock holder can either keep the shares or sell it to create his own

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3 years ago

Who is most likely to benefit when the Canadian dollar depreciates against the euro? A. Foreign sellers to Canadian buyers B. Ca

mariarad [96]

Answer:

Explanation:

When the Canadian dollar depreciates against the euro, the value of the Canadian dollar falls relative to the Euro.

For example, the exchange rate before the depreciation is 40 Canadian dollar / Euro. After the depreciation, it is 80 Canadian dollars / Euro.

Goods become more expensive for Canadian buyers of foreign goods. For example, a foreign good costs 160 Euros. Before the depreciation the good would cost (160 x 40) = 6400 Canadian dollars. After the depreciation, it would cost, 12,800 Canadian dollars.

Canadian sellers to foreign buyers don't benefit from the depreciation. Assume a local good costs 40 Canadian dollars. foreigners would pay 1 Euro for the good before depreciation. After depreciation, foreigners would pay 0.5 Euros for the good

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3 years ago

f the project manager controls when and what people do while the functional managers control who will be assigned to the project

faust18 [17]

Answer:

The correct answer is Matrix.

Explanation:

In a matrix structure each manager is in charge of the results and tasks executed in his area. Employees are usually accountable to one person who generally manages the project and to another who directs a specific area. The great advantage of this structure is that it allows direct communication, making it possible to take corrective measures faster, in the same way it allows each person to focus on each task so that they can transmit some requirement to the closest person.

3 0

3 years ago

Read 2 more answers