Answer:
On November 27
Debit Retained earnings $12,750
Credit Dividend payable $12,750
<em>(To record the dividend declared)</em>
On December 24
Debit Dividend payable $12,750
Credit Cash $12,750
<em>(To record dividend paid) </em>
Explanation:
- Dividends on gains on shares bought by the shareholders. They arise due to appreciation in share price and improvement in company's net income.
- The dividend payable was calculated as $.5 x 25,500 shares = $12,750.
- Dividends are usually paid out of retained earnings.
- The dividend payable account is debited when payment is to be made.
Answer: decrease by $1,600
Explanation:
Charlotte withdraws $8,000 from her account. When she first paid in that $8,000, the bank had to keep some of it as a reserve requirement. That requirement was that they keep 20%.
Now that she is withdrawing the money, the bank would have to retrieve that 20% from the reserve requirement in order to give it back to Charlotte.
That 20% is:
= 20% * 8,000
= $1,600
Answer:
Allocated MOH= $99,960
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 200,000 / 336,000
Predetermined manufacturing overhead rate= $0.595 per direct labor dollar
<u>Now, we can allocate overhead to Product 3:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 0.595*168,000
Allocated MOH= $99,960
I am figuring this question out for you! one moment please
Explanation:
<span>As you develop your resume, think “advertisement,” not “autobiography.” The idea is not to provide every minute detail of your life and career but to distill your life and career to the concise points that will sell you to an employer. As a sales tool, your resume should focus on accomplishments, not responsibilities/duties and should stick to information that is relevant to how well you can perform a given job — as opposed to irrelevant personal details.
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