Answer: Under IFRS, preferred stock dividends are reported in the income statement as interest expense
Explanation:
Preference shares, also called preferred stock, are the shares of the stock of a company whereby dividends are paid to the shareholders before the dividends are being issued.
For this type of shares, even if the company goes bankrupt, the preferred stockholders will be paid from the assets of the company before the common stockholders.
Under IFRS, preferred stock dividends are reported in the income statement as interest expense
Answer:
The correct answer is letter "C": economy-wide phenomena.
Explanation:
Macroeconomics studies the performance of an economy as a whole while Microeconomics focuses on the decisions, spending, and performance of individuals or single businesses. Macroeconomics focuses on aggregate expenditure and consumption of a nation or region.
Answer:
Explanation:
This action will not result in a 2 year ban on the municipal broker dealer conducting municipal securities business with that issuer because the Municipal Securities Rulemaking Board
( MSRB )rule only applies to the Municipal Finance Professional
( MFPs )
Answer:
Explanation:
The journal entry is shown below:
Account receivable A/c Dr $593,850
To Sales tax payable A/c $58,850 ($535,000 × 11%)
To Sales revenue A/c $535,000
(Being sale is made on credit)
The account receivable amount includes both the sales tax payable and the sales revenue amount.
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