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3 years ago

Dividends cause a(n) increase/decrease)_________ in equity and are recorded directly in

Business

1 answer:

Artyom0805 [142]3 years ago

6 0

Answer:

Decrease (debit) in equity, Cash Dividends Payable (credit, liability account)

Explanation:

The journal entry to record the declaration of the cash dividends involves a decrease (debit) to Retained Earnings (a stockholders' equity account) and an increase (credit) to Cash Dividends Payable (a liability account).

(opentextbc.ca)

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When a consumer borrows money, the lender will ask the borrower to sign:

mel-nik [20]

Answer:

a lender's agreement.

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2 years ago

Mr.Akhil (55 years) paid mediclaim for self and family Rs.40,000 and for parents (80 years) Rs.60,000. What will be the deductio

Dominik [7]

In order to claim the deduction under Section 80D, the expenditure needs to be made in any means other than cash. Although the expenditure on preventive health check-ups is allowed to be incurred in cash. The deduction for the following expenses are available under section 80D:

A. Medical insurance premium paid for yourself & your family. Rs. 25,000 Rs. 50,000 (in case of senior citizen)

B. Medical insurance premium paid for your parents. Rs. 25,000 Rs. 50,000 (in case of senior citizen)

C. Expenditure on preventive health check-up. Rs.5,000

D. Medical expenditure of senior citizens or super senior citizens. Rs.50,000

E. Contribution to CGHS/notified scheme. Rs.25,000 Rs.50,000(in case of senior citizen)

Maximum amount of deduction (A+ B+C+D+E) Non-senior citizens(Self & family and Parents) Senior Citizens (Self & family and Parents) Self & family (Non-senior citizens)Parents(Senior Citizens) Rs.25000+Rs.25000= Rs.50,000

Rs.50000+Rs.50000=Rs.1,00,000

Rs.25000+Rs.50000=Rs.75,000

Hence, the deduction available is his total paid minus expected paid which is Rs. 40000 + Rs. 60000 = Rs. 100000 - (A+ B+C+D+E) = Rs. 150000

<h3>What is Section 80D?</h3>

Section 80D permits the deduction for money spent on taking care of one's health and health insurance. Section 80D claims great significance in one's tax planning and personal finance.

Therefore, the correct answer is as given above

learn more about Section 80D: brainly.com/question/14585764

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2 years ago

(a) When an anti-assignment clause exists in a contract, a court will not enforce it because it is against public policy.

lidiya [134]

Answer:

a. FALSE

b. A contract cannot forbid the assignment of the right to receive funds . Assignments also cannot be restricted for the transfer of real estate , also called a restraint against alienation . A contract cannot prohibit the assignment of checks or promissory notes, also called negotiable instruments . The right to receive damages in a contract for the sale of goods also can be assigned, even if the contract forbids it.

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2 years ago

Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7

nalin [4]

Answer:

the depreciation expense on the equipment will be 1,785 for tax purpose.

Explanation:

We will look into the MACRS (Modified Accelerated Cost Recovery System)

table for a property of seven years placen into service in the 4th quarter:

Which give us 3.57%

now we multiply the basis by the coefficient and get the value for depreciation

50,000 x 3.57% = 1,785 depreciation expense under MACRS

4 0

2 years ago

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The

eimsori [14]

Questions

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product X Product Y Total Allocated joint processing costs $22,400 $19,600 $42,000 Sales value at split-off point $32,000 $28,000 $60,000 Costs of further processing $11,600 $25,300 $36,900 Sales value after further processing $44,800 $53,200 $98,000 Required: (a) What is the net monetary advantage (disadvantage) of processing Product X beyond the split-off point?

Answer:

Net advantage from further processing $1,200 

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.

Also note that all the joint costs incurred up to the split-off point are irrelevant to the decision to process further any of the .

Net monetary advantage of product X

Sales revenue after the split-off point 44,800

Sales revenue at the split-off point (32,000)

Additional sales revenue 12,800

Further processing cost (11,600)

Net advantage from further processing 1,200

Net advantage from further processing $1,200 

4 0

3 years ago