Answer:
(C) II, III only
Explanation:
I. the date the service was performed is on June 1st, Therefore revenue will be recoganized on June 1st.
II. Melly Corp received advance payment for raw material to be delivered to Drake Inc. in 6 month, Therefore revenue cannot be recognized on June 1st.
III. Lodo, LLC collected cash on June 1st for service rendered on May 1st. Therefore revenue will not be recoganized on june 1st
The revenue that cannot be recognized on June 1st for II and III case.
Answer:
it makes the price so low that the quantity demanded exceeds the quantity supplied on the legal market.
Answer: Thursday December 18
Explanation:
The ex date for regular way trades will be set at Thursday December 18. The ex date for regular way trades is typically set a day before the record date.
In this case, we are told that the corporation declares a cash dividend on Friday, December 5th, which was payable to the holders of record on Friday, December 19th.
Since the record date is the question is Friday, December 19th, then the ex date for the regular way trades will be set at Thursday December 18 which is a day before the 19th.
D maybe sorry if wrong i am not the best in history
Answer:
Retained earnings-Closing = $19,900
Explanation:
Given that,
Revenues = $22,400
Operating Expenses = $15,000
Dividends = $4,500
Retained Earnings(opening) = $17,000
Net Income = Revenues - Operating expenses
= $ 22,400 - $15,000
= $7,400
Statement of Retained Earnings:
Retained earnings-Closing:
= Retained earnings -opening + Net Income - Dividends
= $17,000 + $7,400 - $4,500
= $19,900
