Answer:
B) Debit: Cash Dividends 50,000 Credit: Dividends Payable - Common Stock 50,000
Explanation:
At the time of declaration of dividends the proper journal entry should be:
- Dr Retained Earnings 50,000
- Cr Dividends Payable - Common Stock 50,000
You can use the Cash Dividends account, which is a temporary account, although it's not the best option. This account is used only when companies have not been making a profit before (retained earnings = 0), or for new companies.
Since no payment is done, the cash account is not affected (eliminating options A, C and D).
Dividends Payable is a liability account and since it increases, it should be debited.
Cash Dividends is a temporary equity account that is debited once the company declares the dividend distribution.
Answer:
(D)U.S. Treasury Bills
Explanation:
T-Bills do not have a reinvestment risk because they cannot be reinvested. They are short-term investment options (usually a year), that do not have regular interest payments like a bond, and whose gain for the investor lies in the value that is paid when the t-bill reaches maturity.
Answer:
Cash account reconciliation:
Cash account balance $27,700
subtract bank fees ($110)
subtract NSF check <u> ($580)</u>
Reconciled balance $27,010
Bank account reconciliation:
Bank account balance $26,000
subtract outstanding checks ($5,700)
add deposits in transit $6,300
add error with Smith Company check <u> $410</u>
Reconciled balance $27,010
Answer:
D. Questioning is a good way for the leader to stay in command.
Explanation:
It is known in new management jobs to panic because some would say or be open enough to feel apprehension or at worse to feel perceived as a fraud as skills are not advanced in new management jobs to full fill the criteria for a specialist role. When questioning, the process of learning by asking questions and listening. The more a manager listened, the better his or her questions became and the more they had learned. Questions also helped managers clarify their own thinking on projects, workflow, and strategies for their new unit.
How well do you ask questions? From some managers experience, most managers and leaders don't think about this issue very often. The "ability to ask questions" doesn't usually show up on any list of managerial competencies or job description requirements. However, asking questions effectively is a major component of any manager or leader's job, and asking good questions often distinguishes outstanding leaders and managers from average ones (or worse, poor ones).
