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3 years ago

Transactions for Crane Company for the month of June are presented below.

Business

1 answer:

Ira Lisetskai [31]3 years ago

7 0

Answer:

1. Dr Cash $4,960

Cr Common Stock Issues $4,960

2. Dr Equipment $1,720

Cr Accounts Payable $1,720

3. Dr Rent Expenses$930

Cr Cash $930

4. Dr Service receivables $820

Cr Service Revenue $820

Explanation:

Preparation of the journal entries

1. Dr Cash $4,960

Cr Common Stock Issues $4,960

2. Dr Equipment $1,720

Cr Accounts Payable $1,720

3. Dr Rent Expenses$930

Cr Cash $930

4. Dr Service receivables $820

Cr Service Revenue $820

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The annual dividend on the preferred stock is $1000 in total.

<h3><u>What is an Annual dividend?</u></h3>

An annual dividend is a payment made by an insurance firm to its policyholders each year in the insurance sector. Annual dividends are most frequently given out in combination with plans that provide long-term disability insurance and permanent life insurance.
A payment made annually to an insurance policyholder, frequently under a long-term disability or permanent life insurance policy, is known as an annual dividend.
The insurance company's income, the success of investments, and the amount of money invested all affect the dividend amount.

Annual profits may be paid as cash, used to pay for further insurance, or added to premiums to lower future total payments.

The company has 2000 shares of 5% that is: (2000*5)/100 = 100

with a par value of $10, which becomes:

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2 years ago

Determine what paul will have to pay on an annual bases for his $449,000 home if his insurance company is charging him $0.41 per

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Answer:

He has to pay the insurance company=$1840.90

Explanation:

Value of his home=$449,000

Insurance company charges $0.41 per $100 of value in his home

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They charge 0.41 for every $100=4490×0.41= $1840.90

He has to pay the insurance company=$1840.90

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4 years ago

Washington Inc. issued $846,000 of 6%, 20-year bonds at 98 on January 1, 2009. Through January 1, 2017, Washington amortized $9,

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Answer:

Bond discount at the issuance of bond = $846,000 - ($846,000/100 *98)

Bond discount at the issuance of bond = $846,000- $829,080

Bond discount at the issuance of bond = $16920

Bond Payable = $846,000

Un-amortized bond discount = $16,920 - $9,840

Un-amortized bond discount = $7,080

Redemption Value of Bond = 102/100 * $846,000

Redemption Value of Bond = $ 862,920

Loss on retirement on Bond = Redemption Value of Bond - (Bond Payable - Un-amortized bond discount)

Loss on retirement on Bond = $862,920 - ($846,000 - $7,080)

Loss on retirement on Bond = $862,920 - $838,920

Loss on retirement on Bond = $24,000

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4 years ago

What are the responsibilities of an executor? Check all that apply.

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A paying any taxs that are due on the estate

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3 years ago

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What is the main difference between a vertical hierarchy of authority and a horizontal specialization?A. Horizontal specializati

AlekseyPX

Answer:

B. Vertical hierarchy shows who reports to whom and horizontal specialization shows the different jobs.

Explanation:

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3 years ago