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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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If total spending rises from one year to the next, then which of the following could not be true?A. the economy is producing a l
galina1969 [7]

Answer:

C. the economy is producing a smaller output of goods and services, and goods and services are selling at lower prices.

Explanation:

An economy's level of spending reflects total spending on consumption, investment, government spending, ie, aggregate demand. The effect of increased spending experienced by an economy will have one of the following implications:

i) increase in production and change in selling price

ii) in an extreme case of an inflationary economy, the increase in spending does not affect real production, it is just a monetary effect of artificial price increases.

However, no increase in expenditure is compatible with decreasing production and selling price at the same time. This would be the case in a recessive scenario, incompatible with rising expenses.

6 0
3 years ago
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the f
wariber [46]

Answer:

a. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2016?

Proceeds from sale of land $10.8

Purchase of Microsoft common stock -$162.0

net outflow = -$151.2 million

b. In Rapid Pac's statement of cash flows. what were net cash inflows (or outflows) from financing activities for 2016?

Payment for the early extinguishment of long-term bonds (book value: $91.0 million) -$91.0

Proceeds from the sale of treasury stock (cost: $27.0 million) $32.0

Distribution of cash dividends declared in 2020 -$58.0

net outflow = -$117 million

8 0
2 years ago
When offered paid medical insurance——-consider benefit?
Verdich [7]
I believe the answer is B
5 0
2 years ago
Read 2 more answers
The precaution of prohibiting employees from bringing personal computing devices into a facility is what type of security contro
Marat540 [252]

The precaution of prohibiting employees from bringing personal computing devices into a facility is procedural type  of security control.

What are procedural security controls?

Procedural controls builds  a framework for validating and maintaining the computer system and for ensuring that users can  understand how to use the system. Procedural controls basically take the form of standard operating procedures  and user manuals.

Why is procedural security important?

Procedure security measures are important to improving security and preventing escapes as it allows risks to be addressed and dealt with appropriately.

Learn more about procedural security:

brainly.com/question/15027705

#SPJ4

3 0
1 year ago
When the Central Bank acts in a way that causes the money supply to increase while aggregate demand remains unchanged, it is
Paha777 [63]

Answer:

A) following an expansionary monetary policy.

Explanation:

Central Bank through the Federal Reserve can influence money supply in the economy. If it causes the money supply to increase while keeping the aggregate demand constant, it is following an expansionary monetary policy. This can occur in various ways like through decreasing interest rates, buying bonds in the open market operations; known as quantitative easing, or by lowering the reserve requirement ratio for banks and other financial institutions.

5 0
3 years ago
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