A corporation declared dividends on December 1 payable on January 15 to shareholders of record of December 30. The balance of Retained Earnings   Question options: a decreases on December 30 b decreases on January 15 c is not affected on December 30 d is not affected on December 1

Q: An asset is purchased at a cost of P110 000 on 1 January 2016. The asset has a useful of 10 years.…

A: Introduction: Depreciation : Decreasing value of fixed assets over its useful life period called as…

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A: When cash dividend are declared then liability to pay dividend is recorded in the books. It is…

Q: Franklin Company established a predetermined fixed overhead cost rate of $36 per unit of product.…

A: Formula: Fixed cost spending variance = Budgeted fixed overheads - Actual Fixed overheads

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A: When there is a transfer of inventories to investment property at fair value then the difference…

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A: Solution:- a)Computation of the break-even sales (units) for the overall product as follows under:-…

Q: Shoshin, Inc. owns land and building in Manila used for operations and administration. The company…

A: The question is related to  reclassification from owner-occupied property to investment property.

Q: Year one income statement by months ( sales by year 3 $2.7m 2.7 m /3 = $900,000 average each year…

A: Total expenses = Costs of goods sold + Depreciation (Capital expenses), Location expenses,…

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A: Introduction : The contribution margin is calculated by subtracting the selling price from the…

Q: Reporting a Note Payable Using the Fair Value Option On January 1, 2020, Nakoma Inc. issued an 8%…

A: Unrealized Profits: Unrealized profit is an amount which is not yet realized to the company as the…

Q: 1. The partners receive interest on their capital accounts at 9.5 % on the balance of their partner…

A: The calculation of taxable income of each partner requires calculating the income from the income…

Q: QUESTION 26 The U.S. tax code is based on the idea that everyone should help finance the government…

A: A tax code seems to be a federal govt regulation, generally, thousands of pages long, that explains…

Q: Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.…

A: The cost of goods sold is the total amount paid by your company as a cost directly related to the…

Q: Nyhiraba Limited purchased an asset on 1st January 2015 for an amount of R5 million. The asset has…

A: Lets understand the basics. As per IAS 36 "Impairment of asset", impairment arise when recoverable…

Q: Q8 ABC Bakers is a partnership concern owned and operated by Mr. X and Mr. Y. Identify the option…

A: There are variety of the way during which a partnership could also be defined, but there are four…

Q: 1. Mendoza Company has recently decided to convert from conventional product costing to an…

A: Activity based system is a costing system that assigns overheads and other costs to products and…

Q: A, B, and C are partners with capital balances on December 31, 200D of P 450,000, P 450,000 and P…

A: partnership is such form of business two or more person you want together in order to share that…

Q: Chevy Company owns 50% of another entity’s preference share capital and 40% of its ordinary share…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Kansas Enterprises purchased equipment for $74,500 on January 1, 2021. The equipment is expected to…

A: Formula: Straight line method depreciation =(  Asset cost - Salvage value ) / Useful life

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A: Date Account Titles and Explanation  Debit   Credit  Dec'1 Retained earnings  (74,000 shares X $ 2…

Q: During the audit of a manufacturing firm, you are performing audit data analytics ba payroll file.…

A: Audit of Payroll Division  Observation  Clarification  and correction  Reporting   All such…

Q: Company X (A)S 105,200 Sales revenue Baginning inventory Net purchases Ending inventory Cost of…

A: Formula: Gross profit = Sales revenue - cost of goods sold

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A: A budgeted income statements statement that forecasts earnings, revenue, and expenses for the coming…

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A: A share represents in a firm is a unit of stock ownership. Dividends are distributed to shareholders…

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A: The correct answer for the above mentioned question is given in the following steps for your…

Q: a. Prepare the adjusting journal entry on December 31 of 2020, 2021, and 2022.

A: Fair value is the value which is the current market value of the note which is the true value of the…

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A: Answer) Calculation of Internal Growth Ratio Internal growth ratio = (Return on Assets X Retention…

Q: Ciara company assigns patent rights for which royalties are received. During 2018, Ciara  received…

A: A royalty is a fee paid to the owner of a product or patent by a third party for the use of that…

Q: The following information pertains to Travis Concrete Sales revenue $2,000,000 700,000 100,000…

A: Formula: Capital Turnover = Sales revenue / Invested capital

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A: Income Statement: An accounting report that indicates the company's profitability structure…

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A: Intangible assets are typically intellectual assets. Because of how intangible assets are…

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A: Lets understand the basics. Direct material price variance indicates the variance between the rate…

Q: Raymond Moss, vice president of Moss Auto Parts, gets an annual bonus of 15% of any income, before…

A: A bonus is monetary recompense that exceeds the recipient's usual payment expectations. Bonuses can…

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A: As the Khaki pants contribution margin per pair is higher than Khaki shorts hence minimum demand for…

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A: Depreciation refers to the amount that is charged on the fixed assets throughout their useful life…

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A: In this question, Jessa companies financial condition is disclosed : - They acquire 40% shares of an…

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Q: year is October-September. All välues CAD Millions. 2021 2020 2019 2018 201 5-year trer…

A: Horizontal analysis is a technique for examining a corporation's financial records throughout time.…

Q: NOTE: please use the given formula. Thank you.

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A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

Q: The peso equity in corporate capital for each share capital owned by a shareholder is known as a.…

A: Answer) The correct option in the given question is: Book value per share: It is because book value…

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A: Formula: Division Turnover = Sales revenue / Average operating Assets

Q: On September 1, 2021, Allied Moving Corp. borrows $90,000 cash from First National Bank. Allied…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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A: Formula: Capital turnover = Sales revenue / Invested capital

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Q: On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value)…

A: In the context of the given question, two independent cases are there. In case no. 1, the Board of…

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A: Lets understand the basics. Net book value is a value after reducing depreciation from the gross…

Q: Mr. James Santiago created two (2) trusts designating Atty. Mars Bonafe and the Philippine Trust…

A: The correct answer for the above mentioned question is given in the following steps for your…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.