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notka56 [123]
3 years ago
15

On January 2, 2017, the board of directors of Michael declared a 10% stock dividend to be distributed on February 15, 2017. The

market price of Michael Company's common stock was $75 per share on January 2, 2017. On the date of declaration, the retained earnings account should be decreased by
Business
1 answer:
frozen [14]3 years ago
8 0

Answer:

the decrease in the value of the retained earning is $172,500

Explanation:

The computation of the decrease in the value of the retained earning is given below:

The dividend of the stock is

= (25,000 shares - 2,000 shares) × 10% × $75

= $172,500

Since there is the stock dividend of $172,500 so it ultimately reduced the retained earning account by $172,500

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1. Analyze financial statements. 2. Transfer journal entries to ledger 3. Prepare the financial statements. 4. Record transactio
MrRa [10]

Analyze transactions- Post individual transactions into a single account, Transfer journal entries to ledger-Summarize data in the ledgers, Prepare the financial statements-Evaluate profit/loss of the firm, Record transactions in journals--Prepare income statement, Take a trial balance-Record financial data, Analyze source documents- Separate purchasing receipts from sales documents.

<h3>What is profit and loss?</h3>

Profit is the excess amount of the firm, which the business has attended in the financial year of working. I t includes the net profit. Loss is the amount that a firm occurred during a year, it covers the net loss of the firm.

Thus, the statement are matched above.

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7 0
2 years ago
A decade ago the government of Weinsland decided to liberalize the country's economy. As a result, today the country is experien
Georgia [21]

Answer:

As the country gets richer, there will be a shift in the society from "traditional" to "secular rational" values

Explanation:

In this scenario Weinsland decided to liberalize the country's economy. This will reduce government regulation on the economy and increase participation of private entities.

Liberalisation encourages economic growth.

Traditional conservative values are passed from generation to generation, and change only a little over time.

Secular rational values on the other hand embrace an ever changing economic environment where innovation constantly changes acceptable ways of doing things

6 0
3 years ago
The purchasing agent of an organization acquired some raw materials at a bargain price, even though she knew that their quality
pshichka [43]

Answer:

So a favorable material price variance might be more than offset by an adverse usage variance

Explanation:

<em>Material price variance</em>

<em>A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. </em>A favourable variance is recorded where the actual total cost of materials of a given quantity is lower that the standard cost. While an adverse variance implies the opposite

<em>Material usage variance</em>

<em>A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used.</em> A favorable variance would mean than less quantity of materials were  used than the standard to achieve a given output level. And an adverse variance would mean the opposite

<em>Relationship between Usage variance and Price variance</em>

Where savings are made from purchase of cheap and inferior quality materials these  might lead to an adverse usage variance by a greater value .This is so because  workers might need to use a larger quantity ( more than the standard required) of a low-quality materials to achieve production.

So a favourable material price variance might be more than offset by an adverse usage variance

5 0
3 years ago
Read 2 more answers
An investor purchases a PQR convertible bond at 98 on June 18, 1994. The bond is convertible at $25, and on June 19, 1995, when
suter [353]

Answer:

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8 0
3 years ago
Last year Almazan Software reported $10.500 million of sales, $6.250 million of operating costs other than depreciation, and $1.
castortr0y [4]

Answer:  -($0.5025) million

Explanation:

As depreciation is expected to increase this year by $0.670 million.

Therefore,

Expenses will increase and will result in decrease in income before tax by $0.670 million.

Additional tax saving on increase in depreciation = $0.67 × 25%

                                                                                   = $0.1675 million

Hence,

Total change in net income = -($0.67) + $0.1675

                                              = -($0.5025) million

8 0
3 years ago
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