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Rama09 [41]
2 years ago
6

Who is responsible for the preparation of the financial statement​

Business
1 answer:
weqwewe [10]2 years ago
8 0

Answer:

Account manager or chief accountant

Explanation:

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Explain why peccarelli returned to guatemala and describe the goals his team are trying to accomplish.
Leno4ka [110]

The reason why Peccarelli returned to Guatemala was to look for the bodies of a tragedy that happened in his childhood and help identify them. His team’s goals are to talk to the families of the deceased and to give the families closure.

7 0
3 years ago
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 10
gogolik [260]

Answer:

1. See the attached excel file for the journal entries.

2. Ending balance of retained earning is $346,125

3.Total Stockholder's Equity is $1,616,125

Explanation:

1. Prepare journal entries to record each of these transactions.

Note: See the attached excel file for the journal entries.

The following are tge workings:

w.1: Treasury stock = $5,000 * $20 = $10,000

w.2: Dividend payable = (Issued and outstanding shares - Shares repurchase) * Dividend per share = (60,000 - 5,000) * $4 = 55,000 * $4 = $220,000

w.3: Cash = Number of shares sold * Selling price per share = 1,875 * $24 = $45,000

w.4 = Treasury stock = Number of shares sold * Treasury price per share = 1,875 * $20 = $37,500

w.5: Additional paid in capital = Number of shares sold * (Selling price per share - Treasury price per share) = 1,875 * ($24 - $20) = $7,500

w.6: Cash = Number of shares sold * Selling price per share = 3,125 * $17 = $53,125

w.7 = Treasury stock = Number of shares sold * Treasury price per share = 3,125 * $20 = $62,500

w.8: Balancing figure = Treasury stock (w.7) – Cash (w.7) - Additional paid in capital (w.5) = $62,500 - $53,125 - $7,500 = $1,875

w.9: Dividend payable = (Issued and outstanding shares * Dividend per share = 60,000 * $4 = $240,000

2. Prepare a statement of retained earnings for the year ended December 31, 2019.

Kohler Corporation

Statement of Retained Earnings

On December 31, 2019

<u>Particulars                                                  Amount ($)  </u>

Opening balance                                       400,000

Income for the year                                    408,000  

Dividend Paid (220,000 + 240,000)        (460,000)

Loss on sale of treasury stock               <u>        (1,875)    </u>

Ending balance                                     <u>      346,125   </u>

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.

Kohler Corporation

Stockholder Equity Section of Balance sheet

At December 31, 2019

<u>Particulars                                                        Amount ($)</u>

Common stock issued ($20 * 60,000)               1,200,000

Paid-in capital in excess of par v - c. stock     <u>        70,000  </u>

Total contributed Capital                                     1,270,000

Retained Earnings                                      <u>      346,125  </u>

Total Stockholder's Equity                             <u>     1,616,125  </u>

Download xlsx
3 0
3 years ago
In the new department she is setting up, Shondra decides that top managers will report to her and that everyone else will report
Drupady [299]

The management function that Shonda is performing when she decides that top managers will report to her while everyone else reports to the head of human resources is <u>iii. organizing.</u>

<h3>What is Organizing in management functions?</h3>

Organizing is that function of management involving the development an organizational structure so that human resources are arranged for the achievement of organizational objectives. Organizing also involves the design of the jobs of individuals.

Thus, the management function Shondra performs here is <u>Option III</u>.

Learn more about management functions at brainly.com/question/17083312

7 0
2 years ago
Price Manufacturing assigns overhead based on machine hours. The Milling Department logs 1,800 machine hours and Cutting Departm
kifflom [539]

Answer and Explanation:

The Journal entry is shown below:-

Work in progress Dr, $24,000

        To Manufacturing Overhead $24,000

(Being the overhead assigned is recorded)

For recording this we debited the work in process as it increased the assets and credited the manufacturing overhead for assigning the overhead

Working note

Overhead amount = (Milling Department + Cutting department) × Overhead rate

= (1,800 + 3,000) × $5

= $4,800 × $5

= $24,000

5 0
3 years ago
Savion is restoring a car and has already spent $4,000 on the restoration. He expects to be able to sell the car for $5800. Savi
8090 [49]

Based on the selling price of the car and the cost to work on it, Savion should sell the car now for $3,800.

<h3>Why should Savion sell the car?</h3><h3 />

The profit if he works on the car is:

= Selling price - Addtional work cost

= 5,800 - 2,400

= $3,400

The profit from selling the car is $3,800 which is more than the profit if additional work is done of $3,400.

The $4,000 is irrelevant as it is a sunk cost.

Find out more on sunk costs at brainly.com/question/13695005.

#SPJ1

7 0
2 years ago
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