Answer:
See below.
Explanation:
Since the preferred stock is not cumulative only the current years' dividend is payable on these stocks.
Preferred stock dividend = (5000 * 100) * 0.08 = $40,000
Of the declared dividend of $100,000,
Preferred Dividend = $40,000
Ordinary share dividend = $60,000
If the shares were cumulative, the prior year dividends would also be payable form the declared dividends bringing the total preferred dividend to $80,000.
Hope that helps.
<span>The Gini ratio for lifetime income is less than the Gini ratio for annual income.</span>
From the information given, the balance that will be in the capital account of Thurman at the end of the second year will be $132860.
The partners account at the end of the second year for Thurman will be calculated thus:
- Beginning capital = $126100
- Add: Net income = $19760
- Less: Drawings = $13000
Therefore, the balance in the account will be $132860.
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Answer:
$3,500
Explanation:
Calculation to determine What will be the balance in accounts receivable at the end of June
Balance in accounts receivable =June Forecasted sales* (Remaining percentage-Percentage collected)
Let Plug in the formula
Balance in accounts receivable =$5,000*(100%-30%)
Balance in accounts receivable=$5,000*70%
Balance in accounts receivable=$3,500
Therefore the balance in accounts receivable at the end of June will be $3,500
