When a person moves horizontally within or across organizations, this is called a horizontal career growth.
<h3>What is a horizontal career growth?</h3>
This is when someone moves across job titles from one company to another or within the same company.
It is called a horizontal move because the person will still be at the same job level that they were at the job they moved from.
Find out more on career growth at brainly.com/question/14735178.
Answer:
Explanation:
The journal entries are shown below:
On Declaration date
Retained Earnings A/c Dr $4,000,000 (400,000 shares × $10)
To Common Stock Dividend Distributable A/c $4,000,000
(Being dividend is declared)
On distribution date:
Common Stock Dividend Distributable A/c Dr $4,000,000
To Common Stock A/c $4,000,000
(Being the dividend is distributed)
Answer:
No impairment loss would be reported
Explanation:
The computation is shown below;
Impairment loss = carrying value - recoverable amount
Where,
The recoverable amount would be the higher amount of fair market value and value in use
So the recoverable amount would be $2,545,000
Now the impairment loss is
= $2,500,000 - $2,545,000
= -$45,000
Since the impairment loss comes in negative so no impairment would be recorded
Answer:
TRUE
Interest income received by a cash basis taxpayer is generally reported in the tax year it is received.
