Answer:
The correct answer is Option B.
Explanation:
Dividend is simply synonymous to a profit from stockholder's investment (usually in form of shares). Dividend is usually declared when the company that the stockholder invests in is performing well.
On November 15 when the dividend declared was recorded, the following journals would have been recorded:
Debit Retained earnings ($5 x 20,000) $100,000
Credit Dividend payable $100,000
<em>(To record declaration of dividend)</em>
However, when it became payable on November 30, 2018, the dividend payable account has to be debited as follows:
Debit Dividend payable $100,000
Credit Cash $100,000
<em>(To record dividend paid to stockholders)</em>
Answer:
$180 billion
Explanation:
The consumption is an act of spending the money from an income. The marginal propensity to consume is the proportion increase in the amount that a consumer is spending. The savings then decline if the consumption increases. In the given scenario the consumption will not raise even if there is an increase in national income and taxes are kept fixed at previous level. This is because marginal propensity to consume is same.
A temporary work authority is granted and valid up to<u> 60 </u>days after being issued.
Ultimate Work Authority (UWA) means the authority assigned to an individual or position to make final decisions regarding the activities and operations of a facility.
Stop Work Authority program is a safety-based process. Give employees permission to stop work in situations that could lead to accidents or injuries. For example, an employee may stop working if Dangerous conditions. An unsafe action occurs.
A Stop Work Authority (SWA) is best viewed as a safety policy or procedure that empowers and empowers employees to stop actions or conditions they deem unsafe. The goal of such a plan is to encourage employees to speak up when they see a potentially vulnerable situation looming, without fear of reprisal.
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The May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system are:
Charlie Company Journal entries
May 13
Debit Account receivable $360
(8×$45)
Credit Sales $360
(To record credit sales)
May 13
Debit Cost of goods sold $208
(8×$26)
Credit Merchandise inventory $208
(To record cost of goods sold)
May 16
Debit Sales return and allowances $45
Credit Account receivable $45
(To record goods returned)
May 16
Debit Merchandise inventory $26
Credit Cost of goods sold $26
(To record cost of goods sold returned)
May 23
Debit Cash $302
($315-$13)
Debit Sales discount $13
(4%×$315)
Credit Account receivable $315
($360-$45)
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Answer:
Debit Cash account $6,500
Credit Deferred revenue $6,500
Explanation:
When cash is collected in advance for a service yet to be rendered, the revenue for that service will be deferred in recognition.
The company will recognize an asset in form of cash and a liability in form of deferred revenue.
Hence to record the transaction,
Debit Cash account $6,500
Credit Deferred revenue $6,500
Being entries to recognize cash collected for service yet to be rendered.
