Answer:
$1,500
Explanation:
The computation of the amount of dividend for a preference shareholder is shown below:
Dividend per year is
= (100 shares × $100 par) × 5%
= $500
As the preferred stock is cumulative, so the holders would receive past dividends i.e not distributed
From 2019 = $500
From 2020 = $500
From 2021 = $500
Total $1,500
Answer:
journal entry are given below
carrying value = $4000 and cash received is $2000
Explanation:
given data
delivery van cost = $20,000
accumulated depreciation = $16,000
Annual depreciation = $2,000
solution
journal entry are
date title debit credit
December 29, 2019 Cash $2000
Accumulated depreciation $16000
Delivery van $20000
note that
here carrying value is = $20000 - $16000
carrying value = $4000
and cash received is $2000
Answer:
The answer will be A
Explanation:
As the social security contributions and benefits remain the same in proportion, personal and national income will remain the same.
As disposable income is defined as personal income-personal taxes, and the personal income taxes fall by 500 million (included in the contibutions), this would mean that the disposable income increases.
Answer:
The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively
Explanation:
The computation of the gross income for each year is shown below:
In 2019:
Gross income = Taxable income × percentage of interest in profits
= $400,000 × 30%
= $1,20,000
In 2020:
Gross income = Taxable income × percentage of interest in profits
= $600,000 × 30%
= $1,80,000
The withdrawn amount is not consider for computing the gross income. So, we ignored it
Answer:
(A) in the summary of significant accounting policies.
Explanation:
It has the company's financial statements and also describes the key policies that are being followed by the accounting department. This policy summary is mandated by the accounting framework like IFRS or GAAP.
