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2 years ago

To be considered an official record the document must be:

1 answer:

8 0

Any papers, books, photographs, magnetic tapes, machine readable materials, microfilm, or other materials which document official actions, decisions, policies or procedures.

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Flounder Corporation reported net income of $331,840 in 2020 and had 186,000 shares of common stock outstanding throughout the y

m_a_m_a [10]

Answer:

Diluted earnings per share is $1.7 per share

Explanation:

The number of diluted shares from the options is calculated thus

Total number of shares from options 34,500

Actual number of shares that can be purchased

(options shares*option price/share market price)

(34,500*$11/$15) (25,300)

Diluted shares 9,200

Diluted earnings per share=net income/(outstanding common stock + diluted common stock)

net income is $331,840

outstanding common stock is 186,000

diluted common stock is 9200

diluted earnings per share=$331,840/(186,000+9200)

=$1.7 per share

3 0

3 years ago

Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,900 shares of its own common st

Nikitich [7]

Answer: See explanation

Explanation:

The journal entry to record the transaction for Sherman systems will be:

Oct-11

Debit Treasury Stock (5,900 × $34) =

$200,600

Credit Cash = $200,600

(To record repurchase of 5900 own shares)

Nov-01

Debit Cash (1,225 × $40) = $49,000

Credit Treasury stock (1,225 × $34) = $41,650

Credit Paid in capital-Treasury Stock = $7,350

(To record sale 1225 shares from treasury stock)

Nov-25

Debit Cash (5,900-1,225) × $29) = $135,575

Debit Paid in capital-Treasury Stock = $7,350

Debit Retained earnings = $16,025

Credit Treasury stock (5,900-1,225) × $34) = $158,950

(To record sale balance from treasury stock)

7 0

2 years ago

At the end of the year, the deferred tax asset account had a balance of $4 million attributable to a temporary difference of $16

Alex

Answer:

1 . Dr ncome tax expense 7

Dr Deferred tax asset 4

Cr Income tax payable 11

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

Explanation:

Preparation of Journal entries

JournalDebitCredit

(In million)

1 . Dr ncome tax expense 7

($11-$4=7)

Dr Deferred tax asset 4

($16× 25% = $4)

Cr Income tax payable 11

($44 × 25% = $11 )

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

(3/4 × $4) = $3 million

Deferred tax asset= ($16× 25%)

Deferred tax asset= $4 million

Income tax payable= ($44 × 25%)

Income tax payable= $11 million

5 0

3 years ago

holi, me podrían ayudar diciéndome unos ejemplos de un catalogo de cuantas plis?? estuve buscando pero no encuentro ninguno :((

FrozenT [24]

<h3>Answer:Una catálogo de cuentas es un documento que es usado para registrar las operaciones de una organización. Es decir, sirve para establecer cuál es la estructura de la empresa a la hora de contabilizar las actividades del negocio. Este tipo de documentos son muy importantes en el ámbito de la contabilidad, dado que facilitan enormemente el registro de las transacciones económicas, sistematizando todo tipo de gasto e ingreso que se haya realizado. </h3>

Explanation: Espero que esto te ayude si no dime para ir a buscar mas informacion!

8 0

3 years ago

Complete the following table by selecting the term that matches each definition.

NeTakaya

Answer:

See as below

Explanation:

1. A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices.

Supply curve: The supply curve is upward sloping. It originates from the bottom left corners and rises as prices increase.

2. The claim that other things being equal, the quantity supplied of good increases when the price of that good rises.

Law of supply: The law of supply asserts that there is a positive or direct relationship between price and quantity supplied. Firms are willing to supply more at higher prices to make more profits.

3. The amount of a good that sellers are willing and able to supply at a given price.

Quantity supplied: Quantity supplied denotes a numerical value that firms are willing to sell at the given price. A high selling is a motivation for producers to supply more.

4. A table showing the relationship between the price of a good and the amount of it that sellers are willing and able to supply at various prices. supply schedule

Supply schedule: A supply schedule shows the quantities that producers are willing to sell at different prices in a period. It illustrates how the price affects the quantities supplies are willing to sell.

7 0

3 years ago