Answer:
Explanation:
1. The journal entry for declaration of dividend is shown below:
Retained Earnings A/c Dr
= (8,600 million shares × $0.18 per share) = $1,548 million
To Dividend payable in cash $1,548 million
(Being dividend is declared)
2. No journal entry should be passed on the record date
3. The journal entry for payment of the cash dividend is shown below:
Cash dividend payable A/c Dr $1,548 million
To Cash $1,5480 million
(Being payment is made for cash dividend)
Answer:
: $4,610
Explanation:
The allowance for uncollectible accounts should be 2% of accounts receivable. So first we wil find out the 2% of $268,000.
($268,000 x 2%) = $5,360
Then we will subtract the $750 allowance for uncollectible accounts before any adjustments.
$5,360 - $750 = $4,610
The amount of the adjusting entry for uncollectible accounts would be: $4,610.
Answer:
A) giving the key to a safe-deposit box where the gift is kept
Explanation:
- A Constructive delivery possession is that acquisition when here a symbolic transfer of property. The constructive distribution of the possession is basically a right that the property is not actually managed
- But the donor has done something to convey the possession, but the property is of such a nature that physical possession is then not possible, the creative possession of the property is sufficient to carry out the act of gift.
Answer:
a. $1.2800
Explanation:
The AUD/SF cross exchange rate is as computed below:
==> AUD/$ ÷ SF/$
==> $1.60 / $1.25
==> $1.2800
So, the AUD/SF cross exchange rate is $1.2800
