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jekas [21]
2 years ago
13

On December 15, 2018, the board of directors of Lomas Corporation declared a cash dividend, payable on January 8, 2019 of $0.80

per share on the 2,000,000 common shares outstanding. The accounting period ends December 31. Because of this action, on December 15, 2018, Lomas Corporation should:
Business
1 answer:
Tom [10]2 years ago
7 0

Answer: decrease retained earnings $1.60 million and increase liabilities by $1.60 million.

Explanation:

The dividend on common shares will be:

=2,000,000 × $0.80

=$1,600,000

Then, the journal entry will be:

Debit: Retained earnings $1.6 million

Credit: Dividend payable $1.6 million

The answer will be to decrease retained earnings $1.60 million and then increase liabilities by $1.60 million.

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A recession within a nation will _________ imports directly, but the impact on the national economy is negative.
katen-ka-za [31]

A recession within a nation will <u>reduce</u> imports directly, but the impact on the national economy is negative.

Monetary policy. monetary policy consists of the steps the central bank of a nation can take in order to regulate the nation's money supply. For example, a central bank might reduce interest rates during a recession in order to make loans more readily available to other banks and thus stimulate economic recovery.

During a recession, the economic struggles, people lose work, companies make fewer sales, and the country's overall economic output decline. The point at which the financial system officially falls right into a recession relies upon an expansion of things.

Monetary policy can offset a downturn due to the fact that decreased interest rates reduce consumers' cost of borrowing to shop for large-ticket objects such as cars or homes. For firms, the economic policy also can reduce the value of an investment.

Learn more about Monetary policy here brainly.com/question/13926715

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4 0
2 years ago
Time, energy, and money are examples of:
KengaRu [80]

Answer:

Flexible resources

Explanation:

Flexible resources are defined as those that can be utilised under different categories of resource groups.

They are able to serve multiple functions.

For example money can be used for different activities like production of goods, training of staff, purchase of raw materials, and so on.

Time can be allocated to different endeavours.

Same applies to energy. It can be focused on pursuing various objectives

8 0
3 years ago
The following transactions occurred during December 31, 2021, for the Falwell Company. A three-year fire insurance policy was pu
Leya [2.2K]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

1. Insurance expense for 6 months = 12,960 x 6/36

= $2,160

Prepaid insurance on December 31, 2021 = 12,960 - 2,160

= $10,800

2.Interest expense for 2 months = 220,000 x 12% x 2/12

= $4,400

Kindly comment if you need further assistance. Thanks

Download xlsx
7 0
3 years ago
The full process to create a product or service is called a ___?
maw [93]

Answer:

D sole proprietorship I think

8 0
3 years ago
You eat an entire box of cookies the night before you attend a weight watchers meeting. this is an example of
oee [108]

The behavior of having to eat the entire box of cookies before attending the weight watchers meeting is an example of having the feeling of overwhelmed by obligations that the person would likely execute conflict. It is seen above as because the person has the obligation of having to have his or her weight to be monitored, he or she has felt the need or urge of having to do some things that he or she wasn't able to do because of it, that is why he or she has arise in the conflict of having to do something that he or she wasn't supposed to do such as eating the box of cookies.

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8 0
4 years ago
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