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blsea [12.9K]
3 years ago
9

Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par valu

e preferred stock and 102,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $4,625; 2020, $13,500; and 2021, $28,500.
Required:
Journalize the declaration of the cash dividend at December 31, 2021.
Business
1 answer:
kifflom [539]3 years ago
5 0

Answer:

December 31, 2021

Debit : Dividends $28,500

Credit : Shareholders for Dividends $28,500

Explanation:

The Dividends declared present a present obligation by the entity to its shareholders.

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3 years ago
_____ is a term that describes a situation in organizations when there is a variety of demographic, cultural, and personal diffe
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Answer and Explanation:

c. Diversity

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You can receive 400,000 five years from today or 1,000,000 thirty years from today. what interest rate makes them equivalent?
deff fn [24]

Answer:

3.73%

Explanation:

The computation of the rate of interest that makes the equivalent is shown below:

As we know that

Present value=Cash flow × Present value discounting factor ( interest rate% , time period)

Let us assume the interest rate be x

where,

Present value of $400,000 is

= $400,000 ÷ 1.0x ^5

And,

Present value of $1,000,000 be

= $1,000,000 ÷ 1.0x^30

Now eqaute these two equations

$400,000 ÷ 1.0x^5 = $1,000,000 ÷ 1.0x^30

(1.0x^30) ÷ (1.0x^5) = $1,000,000 ÷ $400,000

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1.0x^25=2.5

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x =1.03733158 - 1

= 3.73%

3 0
3 years ago
Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of
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Answer and Explanation:

1. The computation of overhead rate based on direct labor cost is shown below:-

Overhead rate = Overhead applied × 100 ÷ Direct labor cost

= 888 × 100 ÷ 1,200

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2. The Preparation of job-order cost sheet for the four jobs is shown below:

Particulars                Job 86        Job 87        Job 88        Job 89

Beginning balance $6,888       $6,820

Direct materials       $3,000      $7,000         $2,100          $1,500

Direct labor              $800          $6,000        $900            $500

Applied overhead  

is 74% of direct labor $592           $4,440       $666            $370

Total                          $11,280       $24,260      $3,666      $2,370

3. The computation of ending balances of Work in Process and Finished Goods is shown below:-

Work in process of Job 88 = $3,666

Finished goods = Total of Job 86 + Total of Job 89

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= $13,650

4. The computation of the Cost of Goods Sold for March is shown below:-

Cost of goods sold is

= Job 87

= $24,260

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3 years ago
Consider Country (Z) with a GDP level of 210,000 and a growth rate of 5% in 2019 (i.e. calculated at the end of year 2019). The
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Answer:

Please help me, l can not answer it

Explanation:

4 0
3 years ago
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