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3 years ago

Before the approving signature is made on a check the signer should verify that the?

1 answer:

3 0

Before the approving signature is made on a check, the signer should verify that the DOCUMENTATION HAS PROPER APPROVAL. A person who sign check for approval should ensure that he sights the documentations with which the concerned transaction was made in order to verify that the transaction actually take place and that the correct amount of money is being charged.

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Lark had net income for 2018 of S103,000. Lark had 38,000 shares of common stock outstanding at the beginning of the year and 44

Kryger [21]

Answer:

price earning ratio = 19.44 times

so correct option is c. 19.44

Explanation:

given data

net income = $103,000

common stock outstanding beginning = 38,000 shares

common stock outstanding ending = 44,000 shares

preferred stock outstanding = 5,000 shares

paid preferred dividends = $29,000

common stock = $35.00 per share

market price preferred stock = $55.00 per share

to find out

Lark's price earnings ratio

solution

first we get here average no of equity share that is

average no of equity share = common stock outstanding beginning + common stock outstanding ending ÷ 2

average no of equity share = $\frac{38000+44000}{2}$

average no of equity share = 41000 share

and

earning per share will be here as

earning per share = ( net income - paid preferred dividends ) ÷ average no of equity share

earning per share = $\frac{103000-29000}{41000}$

earning per share = $1.80

so here price earning ratio will be as

price earning ratio = $\frac{market\ price\ common\ share}{earning\ per\ share}$

price earning ratio = $\frac{35}{1.80}$

price earning ratio = 19.44 times

so correct option is c. 19.44

7 0

3 years ago

Nishi Corporation prepares financial statements for each month-end. As part of its accounting process, estimated income taxes ar

choli [55]

Answer:

1. $4,100

2a. Dr Income tax Expense $4,100

Cr Income tax payable $4,100

2b. Dr Income tax payable $33,926

Cr Cash $33,926

Explanation:

1. Calculation to Determine the amount of the accounting adjustment

Income tax payable for quarter 4 $33,926

Less: Unadjusted balance in Income tax payable account $29,826

Accounting adjustment to be done as on Dec 31 $4,100

2a. Preparation of journal entries to record December 31

Adjustment to the Income as on Dec 31

Dr Income tax Expense $4,100

Cr Income tax payable $4,100

2b. Preparation of the Journal entry to record later January 20 payment of the fourth-quarter taxes.

January 20 payment of the fourth-quarter taxes.

Dr Income tax payable $33,926

Cr Cash $33,926

3 0

3 years ago

What is a good sport or activity to do in high school that looks good on your college application?

nekit [7.7K]

Answer:

football,volleyball,tennis, basketball or

singing,dancing e.t.c

3 0

3 years ago

Vinson Company purchased a patent for $180,000 at the beginning of Year8, and estimated that its expected useful life was 5 year

Alona [7]

Answer:

amortization expense is $36000

Explanation:

given data

purchased = $180000

time = 5 year

to find out

amount recorded as amortization expense

solution

we know here purchased patent for 180000 and here life is 5 years

so here

amortization expense will be purchased / time

amortization expense = purchased / time

amortization expense = 180000 / 5

so amortization expense is $36000

6 0

3 years ago

How donfederal student loans differ from private student loans

vodomira [7]

Federal student loans are made by the government, with terms and conditions that are set by law, and include many benefits (such as fixed interest rates and income-driven repayment plans) not typically offered with private loans.

6 0

3 years ago