<span>Preferred stock which confers rights to prior periods' unpaid dividends even if they were not declared is called: </span>Cumulative preferred stock
In cumulative preferred stocks, the amount of dividend usually given on a fixed-rate annually. But, it shall always be set aside before calculating the dividend for the common stock and the amount will be accrued for the next period if the dividend is not paid on current period.
Answer: The Matching Principle says that we should recognize expenses in the same period that it has helped generate revenue. Thus, recognizing an allowance for doubtful debts for the year resulting from sales would satisfy that principle.
Explanation:
Answer:
$17,450
Explanation:
The antique painting that was bought in January 1996 was sold for $21,000
It was sold for 4,200 in January 2021
It received a net auction fee of 650
Therefore the allowable loss can be calculated as follows
= 21,000-4200+650
= 17,450
Hence the allowable loss is $17,450
C. The tools and processes that surround us to gather and interpret data can be defined as an information technology environment.
Our environment is what surrounds us - so if the environment is technological, then different types of technologies and tools are what fall under that category.
Answer:
d. Using the chained CPI will not have a notable impact on 2019 tax returns.
Explanation:
when amounts are indexed using the chanined consumer price index, they increase slowly because there is a period to period connection in the consumer price index.
Therefore, The use of the chained consumer price index would have not have any significant impact on 2019 tax returns.
