Answer:
Dividend Paid $743
Explanation:
From retained earnings, we can work out dividend paid
Retained earnings beginning $460
Net income for the year $993
Retained earnings-closing ($710)
Divided paid $743
Answer:
No effect
Explanation:
The journal entry to record this give transaction is shown below:
Furniture Dr RM13,000
To Bank RM 13,000
(Being the furniture purchased by cheque is recorded)
For recording this we debited the furniture as it increased the asset and credited the bank as it decreased the assets
Therefore there is no effect in the accounting equation as the increase and decreased in done in asset side only
Answer:
The amount of Bourne’s net §1231 gain for year 6 is $158.750
Explanation:
Gain will be treated as gain under 1231 $211.000
Bourne's gain would be ordinary (- $52.250 )
1231 Gain 158.750
