Answer:
RETAINED EARNINGS = $364,700
Explanation:
Retained earnings are nothing but the profit that a corporation earns up to a specific date. In the question we have been given the retained earnings of the previous year ( 31 December, 2013) and we have to calculate the retained earnings for the present year (31 December, 2014). For this calculation would be like -
RETAINED EARNINGS ( 2013) - $340,800
+
NET PROFIT - $56,500
-
DIVIDEND PAID - $32,600
RETAINED EARNINGS (2014) = $340,800 + $56,500 - $32,600
= $364,700
Answer:
exhaust efforts to settle the claim.
Explanation:
The Civil Rights Act of 1964 is a civil rights and labor law in the United States of America that prohibits discrimination in employment, segregation in schools, and enforces the constitutional voting rights of the citizens.
The Civil Rights Act of 1964 was enacted by the 88th US Congress and signed into law on the 2nd of July, 1964 by President Lyndon B. Johnson.
The Equal Employment Opportunity Commission (EEOC) is a federal agency that was established by US Congress on the 2nd of July, 1965 based on the Civil Rights Act of 1964 so as to uphold and enforce all civil rights law against workplace discrimination by the employers or employees in the United States of America.
As a general rule, the Equal Employment Opportunity Commission (EEOC) can only file a civil suit for a violation of the Civil Rights Act based on a claim by a discriminated employee, after it has exhausted all the efforts to settle the claim presented by a victim. Thus, before filing a civil suit for a violation of the Civil Rights Act, it's very important that the Employment Opportunity Commission (EEOC) has tried everything within its powers to settle or proffer a solution between the accused employer and the potential employee (victim).
Answer: Physical safeguard & security, Accuracy, Segregation of duties, Handling errors
Explanation:
Internal control could be defined as the process of handling an organization accounting and auditing process with it's specified objectives in compliance with laws, regulations and policies.
Here are the four purpose of internal control;
a) Physical safeguard & security; this is to ensure that physical assets and information have a controlled asses, and it's not easily assessible by anyone.
b) Accuracy: this is to ensure that all transactions are accurate when records are checked with the source of information where the transaction took place and the time it occurred.
c) Segregation of duties; this ensures that one individual cannot have access to the recording of information and processing of transaction.
d) Handling errors; this ensures that errors are checked at any stage with transaction occurred with corrections also made
Answer:
a) a demand curve
b) a demand schedule
Explanation:
If Maria's boss wants a graphical representation of the relationship between the price and quantity of televisions demanded she should construct a demand curve as this is a graphic that shows the demand quantities at different prices.
If Maria's boss is more interested in the detailed numbers used to construct this visual representation, she should construct a demand scheduled as this is a table that shows the relationship between the price and the quantities demanded.
Answer:
<em>April 15</em>
Dividends $65,000 (debit)
Shareholders for Dividends $65,000 (credit)
Being Dividends proposed to Shareholders
<em>May 20</em>
No Entry
<em>June 14</em>
Shareholders for Dividends $65,000 (debit)
Cash $65,000 (credit)
Being payment of dividends to outstanding shareholders
Explanation:
Journal entries and narrations are provided above.
Dividend Calculation = 100,000 shares × 65 cents
= $65,000
Note : On 20 May no entry must be made. On this day the directors determine the number of stocks outstanding for dividends.