Answer:current balance of retained earnings=$206,000
Explanation:
Net Retained Earnings = Total Income since Incorporation−
Total Cash Dividend Paid− Value of Stock Dividend distributed
Where
cash dividends distributed among the stakeholders= $55,000
value of stock dividends distributed = $31,000
Total Dividend Distributed = $86,000
Net Retained Earnings = $292,000 -($86,000)=$206,000
Explanation:
The journal entries are shown below:
1. Salaries expense A/c Dr $1,200 ($400 × 3 days)
To Salary payable A/c Dr $1,200
(Being the accrued salary is recorded)
The 3 days are calculated from December 28 to December 31
2. Salaries expense A/c Dr $4,400 ($400 × 11 days)
Salary payable A/c Dr $1,200
To Cash A/c $5,600
(Being the payment is recorded)
3. Now the adjusted balance of Salaries Payable is
= Salaries Payable before adjustment in 2015 + Adjusted balance
= $0 + $1,200
= $1,200
Answer:
Formal tax legislation is the process by which a proposed tax rule or tax change may become law in the United States. Formal tax legislation follows specific steps as defined by the U.S. Constitution.
Explanation:
Answer:
Production for the third quarter 159,500
Explanation:
Sales for the period 161,000
Desired ending inventory 4,600
Total production needs 165,600
Beginning Inventory (6,100)
Production for the third quarter 159,500
The sales for the period and the desired ending inventory are the total units we need for the quarted.
the beginning inventory reduces the production because are units we already have
Answer:
A. $75,000 dividend
Explanation:
This is not a capital gain as it do not come from the change in the value of the previously owned shares this are new shares.
The shares which N and M provide in favor to Ben are an stock dividend thus, the tax treatment should be of dividends as well.
