Answer:
C.
Explanation:
In a Under Periodic Inventory System, the inventory quantities are updated at the end of the period taking physical inventory count.
There is no track exactly how many items where sold.
It is not know how many items are left until the count closing inventory.
Ecuation:
Inventory at the begining of the period
+
Purchases
-
Cost of goods sold
=
Inventory at the end of the period (the ending inventory is determined by a physical count and subtracted/added from the cost of goods sold)
Answer:
Dividends debit = $7600
Dividends Payable credit $7600
Explanation:
given data
cash dividend = $0.40 per share
common stock = $3
shares authorized = 47,000
shares issued = 24,000
treasury stock = 5,000 shares
to find out
entry when the dividends are declared
solution
we get here first Dividends for debit that is express as
Dividends for debit = ( shares issued - treasury stock ) × cash dividend
Dividends for debit = ( 24000 - 5000 ) × 0.40
Dividends debit = $7600
and
Dividends Payable credit $7600
Answer: $990
Explanation:
Based on the information that we are given in the question, the net income will be calculated as:
= Dividends + Retained earnings
= $1300 + (-$310)
= $1300 - $310
= $990
Therefore, the net income is $990.
Answer:
they can be bad because they can / will confuse people especially the public
