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3 years ago

Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:

Business

1 answer:

lesantik [10]3 years ago

7 0

Answer:

Preferred shareholder (7,500*$100)*7% $52,500

Common shareholder (70,000×$2) <u>$140,000</u>

Total dividend <u>$192,500</u>

<u />

Date General Journal Debit Credit

10 June Dividend $192,500

To dividend payable $192,500

(To record dividends payable)

20 June No entry required

01 July Dividend payable $192,500

To cash $192,500

(To record dividend payment)

31 Dec Retained earning $192,500

To dividends $192,500

(To close dividend account)

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On January 1, 2019, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,177. During the first 11 months of the ye

Aleks [24]

Answer:

Th etotal accounts written off during 11 months is $ 24,677

Explanation:

Computation of amounts written off

The movement in the allowance account is as per the following formula

Opening balance + Bad Debts Expense - Amounts written off = Ending balance

$ 13,177 + $ 21,273 - Amounts written off = $ 9,773

By solving the equation

Amounts written off = $ 13,177 + $ 21,273 - $ 9.773 = $ 24,677

In other words, the bad debts expense for the year plus the movement in the allowance balance represents the amounts written off

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3 years ago

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Zinaida [17]

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Gross profit is the amount a business makes after deducting the expenses associated with manufacturing and marketing its products or providing its services. Gross profit, which appears on an organization's income statement, can be calculated by subtracting the cost of goods sold (COGS) from revenue. An organization's income statement will contain numbers. Other of names for the gross profit include sales profit and gross income. Generally speaking, fixed costs are not included in gross profit (that is, costs that must be paid regardless of the level of output). Rent, advertising, insurance, salaries for staff not involved in the production directly, and office supplies are some examples of fixed costs.

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1 year ago

What are the likely reason(s) that the market for electricity is not perfectly competitive? Please select all that apply.

Ulleksa [173]

Answer:

The correct answer is option C and D.

Explanation:

A perfectly competitive firm has a large number of buyers and sellers. These sellers produce homogenous products. There is no restriction on entry and exit in the market. The firms are price takers.

The market for electricity is not a competitive market because there are few sellers in the market and there is difficulty in entry and exit because of the high cost involved.

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We arrive at the answer as follows:

Amount allocated by President Obama $100,000,000