Which type of document typically includes contract contingencies?

Adventures Unlimited Company distributes cash dividends. How does this transaction affect the accounting equation? Select one: A

Fiesta28 [93]

Answer: D. The assets decrease and equity decreases.

Explanation:

If you look at the Accounting entries for Dividends you will notice thus,

a) the Cash account is credited because the dividends are removed from it. As you probably know, when an asset decreases it is credited. This therefore means that Assets have reduced because Cash is an Asset.

b) Dividends are debited to the Equity Section of the Balance Sheet in the Retained Earnings account. A debit in the Equity section points to a reduction. This means therefore that the Equity balance reduces as well meaning Option D is correct.

3 0

3 years ago

Exxon Mobil enters into a pact with Gazprom, the world's largest natural gas extractor, to set up a processing unit in Baku, Aze

pishuonlain [190]

Answer:

4. to gain access to low-cost inputs of production

Explanation:

The reason for Exxon Mobil to opt for this strategic alliance, Whereas the remaining ones are not relevant in this context may be because it can help to gain access to low-cost inputs of production.

8 0

3 years ago

Which best describes a tsunami?

slamgirl [31]

Answer:

1st one is the best answer for it.

6 0

3 years ago

Read 2 more answers

I have a question about the number 2 pencil

gtnhenbr [62]

Answer:

its called the number 2 pencil because first is the worst and second is the best

3 0

3 years ago

Read 2 more answers

Coates Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. T

andrew-mc [135]

Answer:

Selling price per unit= $233.87

Explanation:

Giving the following information:

Overhead:

Estimated overhead= $249,000

Variable manufacturing overhead= $3.80 per machine-hou

Estimated machine-hours= 30,000 machine-hours.

Job X784:

Number of units in the job 50

Total machine-hours 250

Direct materials $ 470

Direct labor cost $5,500

Selling price= 30% mark up

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (249,000/30,000) + 3.8

Predetermined manufacturing overhead rate= $12.1 per machine hour

Now, we can determine the total cost of Job X784:

Total cost= 470 + 5,500 + (12.1*250)

Total cost= $8,995

Finally, the selling price per unit:

Unitary cost= 8,995/50= $179.9

Selling price per unit= 179.9*1.30= $233.87

8 0

3 years ago