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2 years ago

Select all that apply

Business

1 answer:

joja [24]2 years ago

7 0

Answer:

Preferred stock is advantageous in that it:

(1) has priority over common stock when dividends are declared.

(3) has priority over common stock at liquidation.

Explanation:

2 and 4 are not correct.

(2) in the case of liquidation, priority of payment is made according to seniority ranking. Creditors is ranked higher than preferred shareholders, so they will recieve payments first.

(4) a company is not obligated to pay dividends to shareholders as with interest payment to creditors. So, the creditors would recieve their interest payments first.

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Artist 52 [7]

So what is the question? This is just a statement.

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3 years ago

During Year 5, Tedd Co. became involved in a tax dispute with the IRS. At December 31, Year 5, Tedd's tax advisor believed that

kkurt [141]

Answer:

$400,000

Explanation:

Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was <u>probable</u>. And a <u>reasonable estimate </u>of additional taxes was $400,000 but could be as much as $600,000.

Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000.

Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet

The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.

- Existing Condition (which in this case is the tax dispute with the IRS)

- Probable Cash Outflow (which Tedd's Tax adviser confirmed)

- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')

Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.

5 0

2 years ago

Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t

gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0

2 years ago

In an attempt to have funds for a down payment, Jan Carlson plans to save $3,700 a year for the next five years. With an interes

Sveta_85 [38]

Answer:

$20,857.24

Explanation:

This is an ordinary annuity question which can be solved using a financial calculator. The inputs are as follows;

Total duration of investment; N = 5

Interest rate per year; I/Y = 6%

Recurring annual payment; PMT = 3,700

One time cashflow; PV = 0

then compute the future value of the annuity; CPT FV = 20,857.244

Therefore, Jan will have $20,857.24 as down payment in 5 years.

7 0

2 years ago

Select the correct answer.

riadik2000 [5.3K]

According to the research, Joana is demonstrating responsibility for delivering a last-minute presentation on behalf of her team.

<h3>What is responsibility?</h3>

It is the quality of that individual who fulfills his obligations and assumes the consequences of his acts.

Through it, individuals make decisions consciously and take responsibility for the consequences that may arise from them, in addition, it implies the commitment to fulfill agreements and obligations.

Therefore, we can conclude that according to the research, Joana is demonstrating responsibility for delivering a last-minute presentation on behalf of her team.

Learn more about responsibility here: brainly.com/question/12656357

#SPJ1

7 0

1 year ago