Answer:
$10,000
Explanation:
As provided no equity is issued, therefore,
Common stock + Net income = Stockholder's equity
We know common stock = $70,000
Further there might be some dividend paid, which shall be deducted from net income to compute total value of Stockholder's equity.
Therefore,
$70,000 + $18,000 - Dividend = $78,000
$88,000 - $78,000 = Dividend = $10,000
Therefore, dividends paid during the month = $10,000
Groups of related business activities such as the acquisition of merchandise and payment of vendors are called transaction cycles.
A transaction cycle is an interlocking set of business transactions. Most of those transactions may be aggregated into a comparatively small number of transaction cycles associated with the sale of products, payments to suppliers, payments to employees, and payments to lenders.
A transaction cycle is a set of accounting transaction that happens in a very normal sequence as an example a sales transaction is followed by shipping transaction, a billing transaction, and a cash receipts transaction.
Therefore, there are four transaction cycles which are the following:- Financial cycle, expenditure cycle, revenue cycle, conversion cycle.
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Answer:
Jenny is engaging in Limited Decision Making.
Explanation: Limited Decision Making is the process in which a consumer spends time to compare between products and services that they are familiar with, but will need time to come to a reasonable decision that they believe is worth their money.
Sometimes, customers may come across brands that are unfamiliar within a familiar category, they will therefore need to gather information about this brand, and how it compares to the familiar brands that they are used to. This is also Limited Decision Making.
An example is when a consumer finds a new soft drink among familiar soft drinks that he/she is used to.
Answer:
a. yes no
Explanation:
At the time of contract the service revenue is not been realized because service is been perform and dealer made a promise to perform services in future. So the revenue will be deferred and will be earned or realized when service will be performed in the future. Deferred revenue will be effected and service revenue will not be effected at the time of contract.
Answer:
(i) $34,200
(ii) $55,860
(iii) $23,960
Explanation:
Total sales = $ 240,000 + $392,000 + $168,000
= $800,000
Department 1:
sales = $240,000
Percent of total = sales ÷ Total sales
= $240,000 ÷ $800,000
= 0.3
Allocated amount = % of total × advertising to allocate
= 0.3 × $114,000
= $34,200
Department 2:
sales = $392,000
Percent of total = sales ÷ Total sales
= $392,000 ÷ $800,000
= 0.49
Allocated amount = % of total × advertising to allocate
= 0.49 × $114,000
= $55,860
Department 3:
sales = $168,000
Percent of total = sales ÷ Total sales
= $168,000 ÷ $800,000
= 0.21
Allocated amount = % of total × advertising to allocate
= 0.21 × $114,000
= $23,940
