1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Goshia [24]
3 years ago
6

"Dan Druff Shampoo has 1,000,000 shares of common stock authorized with a par of $1 per share, of which 500,000 shares are outst

anding. When the market value was $9 per share, Druff issued a stock dividend by which for each ten shares held, one share was issued as a stock dividend. The par per share did not change. What entry did Druff record for this transaction?"
Business
1 answer:
hram777 [196]3 years ago
8 0

Answer:

Debit : Dividends $50,000

Credit : Cash $50,000

Explanation:

Dividend calculation = 500,000 shares x $1 x 1/10 = $50,000

To record the dividend, the following entry is made :

Debit : Dividends $50,000

Credit : Cash $50,000

You might be interested in
Teller, a calendar year company, purchased merchandise from TechCom on November 1 of the current year. TechCom accepted Teller's
ikadub [295]

Answer:

Dr Interest Receivable $240

Cr       Interest Income             $240

Explanation:

The reason is that the Techcom company is lender and must account the lending as a loan.

The loan will be paid with the interest at the end of the period. The interest received at the end of December 31 would be the single month loan at the $4800 at the interest rate which is 10 percent here.

The Interest Income = $4800 * (10% interest rate * 2/12) = $240

The interes would be recorded for the two months which is $240 and accounted for as under:

Dr Interest Receivable $240

Cr       Interest Income             $240

And at the end of January 31, Teller will make the payment which would be accounted for as under:

Dr Cash $5260

Cr Interest Revenue  $120

Cr Notes Receivable $4800

Cr Interest Receivable $240

4 0
3 years ago
You are writing a recommendation report on which vendor of audiovisual services to hire for your company's annual conference. Th
amm1812

Answer:

I suggest you delay your choice until you learn more of Zenith's current management

Explanation:

The management is just a position that doesn't carry the same character. Every manager carries different values and principles and one person might be satisfactory to you while another might not be. The new management may have some characters which might be off-putting to you and might ruin the company's conference. Best to go with what you know than what you don't.

4 0
3 years ago
Is it reasonable to assume that regardless of your relationship with your teammates, or coworkers, you will still show them resp
arsen [322]

Answer:

yes it is

Explanation:

there´s always the premise, that you have to separate your personal of your work life, so is totally reasonable that you have always to show respect to your coworkers because it helps to get better synergies between each other

4 0
3 years ago
If a firm is making an economic profit of zero:__________.
kati45 [8]

Answer:

The correct answer is letter "D": the firm should change to a different line of business.

Explanation:

Economic profit is the difference between the revenue a firm earns from sales and the firm's total opportunity costs. It is important to distinguish between accounting profit and economic profit. Accounting profit is total revenue minus the explicit costs of producing goods or services. Economic profit includes the opportunity costs a company losses or gains by choosing a route to pursue revenue. If a firm has an economic profit of zero, it implies the company should start looking for alternative ways to generate income.

6 0
3 years ago
Using the firm's volume- based costing, applied factory overhead per unit for the Great P model is (rounded to the nearest cent)
Marysya12 [62]

Answer:

$45.99

Explanation:

Calculation for the applied factory overhead per unit for the Great P model

First step is to Calculate the total direct labour cost of High F and Great P

High F $175,200

($10,000*$17.52)

Great P $210,240

($16,000*$13.14)

Total direct labour cost $385,440

Second step is to calculate the factory overhead rate

Using this formula

Factory overhead rate=Budgeted factory Overhead cost/Allocation base

Let plug in the formula

Factory overhead rate=$1,349,040/$385,440

Factory overhead rate=350%

Now let calculate factory overhead per unit for the Great P

Direct labor cost per unit of product Great P $13.14

Great P Factory overhead per unit =$13.14*350%

Great P Factory overhead per unit =$45.99

Therefore Using the firm's volume- based costing, applied factory overhead per unit for the Great P model is $45.99

5 0
2 years ago
Other questions:
  • A transfer payment is
    5·1 answer
  • When product designers use computer-aided design (CAD) software to produce technical drawings in three dimensions, they are usin
    12·1 answer
  • The assets of a company total $738,000; the liabilities, $219,000. what are the net assets?
    14·1 answer
  • Rebecca sells her personal scooter for $550. She purchased the scooter for $700 three years ago. She also sells a painting for $
    12·1 answer
  • On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. The company paid
    5·1 answer
  • The percentage of decrease in the average price of the economy’s goods and services is known as the __________.
    8·1 answer
  • Kelly Enterprises' stock currently sells for $35.25 per share. The dividend is projected to increase at a constant rate of 4.75%
    7·1 answer
  • How do banks make money off of the credit they issue
    15·1 answer
  • Let's suppose that the demand for allergists increases in california. assuming there is a perfectly competitive market for aller
    10·1 answer
  • _______ involves developing and performing marketing activities across national boundaries.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!