A company pays a $2,000 cash dividend that was declared and initially recorded last month. Prepare the general journal entry.
DEBIT: Cash for $2,000; CREDIT: Dividends for $2,000
DEBIT: Dividends for $2,000; CREDIT: Cash for $2,000
DEBIT: Dividends for $2,000; CREDIT: Dividends Payable for $2,000
DEBIT: Dividends Payable for $2,000; CREDIT: Cash for $2,000
Answers
To prepare the general journal entry for the payment of a $2,000 cash dividend that was declared and initially recorded last month, follow these steps:
Step 1: Identify the accounts affected
In this case, the accounts affected are Dividends Payable and Cash. Dividends Payable is a liability account representing the amount owed to shareholders for the declared dividends, and Cash is an asset account representing the company's cash balance.
Step 2: Determine the account type and apply the rules of debit and credit
Dividends Payable is a liability account, and according to the rules of debit and credit, when a liability decreases, it is debited. Cash is an asset account, and when an asset decreases, it is credited.
Step 3: Record the journal entry
To record the payment of the cash dividend, you would debit Dividends Payable for $2,000 and credit Cash for $2,000. This journal entry reflects the decrease in the Dividends Payable liability account, as the company is now paying the declared dividends to its shareholders, and the decrease in the Cash asset account, as the company is using cash to make the dividend payment.
Here is the general journal entry:
Dividends Payable (Debit) | $2,000
Cash (Credit) | $2,000
In conclusion, when a company pays a previously declared cash dividend, the general journal entry to record the transaction is to debit Dividends Payable for the amount of the dividend ($2,000 in this case) and credit Cash for the same amount ($2,000). This entry accurately reflects the company's financial activities and ensures that the company's financial statements remain up-to-date and accurate.
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Related Questions
Why might a manager for a non-profit organization seem as concerned with his or her organization's financial well-being as a for-profit manager?
a. Non-profit managers are evaluated on financial performance only.
b. Non-profit managers try to give the illusion that they care about the "bottom line."
c. Not-for-profit organizations need to make money to continue operating.
d. Non-profit organizations have an obligation to turn a profit.
Answers
Answer:
c. Not-for-profit organizations need to make money to continue operating.
Explanation:
Non-profit organisations mainly focus on meeting their set objectives for example ensuring education is provided to poor children, health services reach the less privileged in society, and so on.
On the other hand for profit organisations mainly focus on turning a profit for the benefit of the business owners.
The manager for a non-profit organization will be as concerned with his or her organization's financial well-being as the for profit manager.
This is because non- profit organisations tend to have a tight budget and they will need to effectively manage resources available to them to ensure they keep functioning.
Vhich of these is an example of a conceptual skill?
O A. Managing a customer complaint
B. Operating office machinery
C. Understanding how promotion will support the company
D. Completing monthly invoices
Answers
Answer:
C
Explanation:
Understanding how promotion will support the company: is based on the mental thinking of the person and not based on what he/she was taught.
An example of a conceptual skill is Understanding how the promotion will support the company. Thus the correct option is C.
What are skills?Skills are referred to as unique qualities, traits, abilities, and talents an individual carries which differentiate them from others and help them to gain a competitive advantage over others to achieve the goals of life.
The ability to see an organization's whole image falls under the category of conceptual skills. For those who hold administrative positions and are responsible for making decisions for the organization, conceptual skills are especially crucial.
Understanding how the promotion will support the company is an example of conceptual skills giving an image in a broader sense which symbolizes the traits of conceptual skills that helps managers to make decisions.
Therefore, option C is appropriate.
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assume the us economy is currently in a recession. keynes would suggest which of the following to help the us economy to get out of it?
Answers
Keynes would suggest an increase in government spending and/or a decrease in taxes to help stimulate the economy and get it out of a recession.
According to Keynesian economics, during a recession, the economy is not producing enough output and employment. Therefore, Keynes would suggest that the government intervenes by increasing government spending on public projects, such as infrastructure or healthcare, to create more jobs and stimulate demand. This increase in government spending would lead to an increase in income, consumption, and investment, which would eventually lead to economic growth.
According to Keynesian economic theory, when an economy is in a recession, the government should intervene to increase aggregate demand through fiscal policies. This can be done by:
1. Increasing government spending on public works, infrastructure, and social programs. This will create jobs and boost consumer spending.
2. Decreasing taxes, which puts more money in the hands of consumers and businesses, encouraging them to spend and invest.
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(Help Needed ASAP will give Brainlist)
List two products and then discuss how supply and demand appear to affect the prices of each of the products.
Answers
Answer:
As the supply of Gasoline goes up, the price goes down and the demand goes up, which the higher demand of gasoline will lower the supply and push the prices higher, which will lower the demand, and with the demand being low, the supply gets higher and the whole cycle starts again
what is Revenue ???
Answers
Answer:
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement. Income, or net income, is a company's total earnings or profit.
Explanation:
Not my answer
Answer:
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Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold.
is the type of competition that occurs in a competitive market without identical producers.
Pure competition
An oligopoly
Monopolistic
Answers
Answer:
Monopolistic
Explanation:
The type of competition that occurs in a competitive market without identical producers is a monopolistic one.
Given that number of daily purchases and if your average round-up was $0.50, how much would you end up investing...
Per day
Per month
Per year
Answers
Amount Invested per Day = (Number of Daily Purchases x $0.50)
Amount Invested per Month = (Number of Daily Purchases x $0.50) x 30
Amount Invested per Year = (Number of Daily Purchases x $0.50) x 365
What is an Investment?An investment is known an asset or item acquired with the goal of generating income or appreciation. Investments are generally made to earn a return on the money or asset, increase one's wealth, or to generate a profit.
In order to calculate the amount invested per day, month and year when an average round-up of $0.50 is applied to the number of daily purchases, the following formula can be used:
Amount Invested/Day = (Number of Daily Purchases x $0.50)
Amount Invested/Month = (Number of Daily Purchases x $0.50) x 30
Amount Invested/Year = (Number of Daily Purchases x $0.50) x 365
For example, if one made 10 daily purchases, the amount invested would be calculated as follows:
Amount Invested/Day = (10 x $0.50) = $5
Amount Invested/Month = (10 x $0.50) x 30 = $150
Amount Invested /Year = (10 x $0.50) x 365 = $1,825
This formula can be used to calculate the amount invested for any given number of daily purchases and an average round-up of $0.50.
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Is it ethical for politicians to be able to invest in the stock
market, given the way they have access to insider information??
Answers
Politicians are sometimes given insider information that is not available to the general public. Such information can affect the value of a corporation's shares. In some circumstances, politicians may be accused of using this insider information to make a profit.
Some people believe that politicians should be permitted to invest in the stock market. They argue that it is their legal right to do so, and that there are no laws prohibiting it. They also argue that because politicians are public officials, they should be entitled to the same rights and opportunities as everyone else. Others argue that it is unethical for politicians to invest in the stock market. They believe that it creates a conflict of interest, and that it undermines the public's trust in the government. If politicians are allowed to invest in the stock market, they may be tempted to abuse their power and manipulate the stock market for their own benefit.
In conclusion, it is important for politicians to be mindful of the ethical implications of investing in the stock market, especially when they have access to insider information. While there may be no laws prohibiting them from doing so, they must consider the potential conflicts of interest and the public's trust in the government.
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Two ways how the use of alcohol during soccer matches creates a negative image for a country
Answers
The use of alcohol during soccer matches creates a negative image for a country in the way that it can lead to violence, aggression, and unruly behavior from fans and health concerns.
What is an alcohol?Alcohol refers to a class of organic compounds that contain a hydroxyl (-OH) group attached to a carbon atom.
Ingesting alcohol in small amounts can produce feelings of relaxation and euphoria, but excessive consumption can lead to a range of negative health effects, including impaired judgment and coordination, liver disease, and addiction.
When a country is associated with use of alcohol during soccer matches, it can damage the country's reputation and make it appear less responsible and healthy.
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If you know the answer plz help me out
Answers
Answer:
o Location
Explanation:
o Location
Two factors that you should personally consider in the future consumption choices
Answers
Answer:
what is the question?
Put the options in the replies to this answers and I'll gladly answer
Explanation:
May I have brainliest please? :)
A PDF file is used to display a file as it will look when _______.
Answers
Answer:
a pdf file is used to display a file as it will look when _____.
Why did the oil industry damage texas environment in its early years.
Answers
Answer:
water, air, and land was destroyed in the quest of money.
Explanation:
Richard Voith estimated the price elasticity of demand for round-trip rail fare to be 0.62. If fares rose by 30 percent, one would expect the quantity of round-trip tickets purchased to:
Answers
Answer:
Fall by 18.6%.
Explanation:
Calculation for quantity of round-trip tickets purchased
Using this formula
Quantity of round-trip tickets purchased=Round-trip rail fare*Fares percentage
Let plug in the formula
Quantity of round-trip tickets purchased=30%*0.62
Quantity of round-trip tickets purchased=0.186*100
Quantity of round-trip tickets purchased=18.6%
Therefore one would expect the quantity of round-trip tickets purchased to:Fall by 18.6%.
The highest yielding savings accounts are paying historically low interest rates, so Maria is only able to get a 1% annual interest rate for her savings account. Assuming interest rates do not change, use the Rule of 72 to approximate how many years it will take for her to DOUBLE her money in this account?
Answers
Using the rule of 72 it is going to take Maria a period of 72 years in order to be able to double the money that is in her account.
What is the rule of 72?This is the term that is used to refer to the rule that helps to tell us of the number of years that would be needed in order to be able to double the amount of invested money of a person.
The formula for the rule of 72 is given as
t = 72 / r
where
t = years
r = rate in percentage
Hence we can say that
72 / 1%
Hence the period that it would take to double the money would be 72 years.
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One can say with certainty that equilibrium price will decline when supply increases and demand decreases. and demand both increase. and demand both decrease. decreases and demand increases.
Answers
Equilibrium price will decline when supply increases and demand decreases.
Equilibrium price is a market equilibrium that refers to the price of a good or service in a given market, at which quantity supplied matches quantity demanded. The equilibrium price is also called the market-clearing price.
This is the point at which there is no excess supply or demand.
Supply and demand determine the equilibrium price and equilibrium quantity in the market. The demand for a good or service rises with a decrease in the price. Conversely, the supply for a good or service increases with an increase in price. So, when supply increases, equilibrium price decreases.
When demand decreases, the equilibrium price decreases as well. In other words, if the supply curve shifts right and the demand curve stays the same, then there will be a decrease in equilibrium price, whereas an increase in supply and decrease in demand will cause the equilibrium price to decrease. When supply decreases and demand increases, the equilibrium price rises, and when supply decreases and demand decreases, the equilibrium price decreases.
Therefore, when supply decreases and demand increases, equilibrium price increases, but when supply increases and demand decreases, equilibrium price decreases.
In conclusion, equilibrium price will decline when supply increases and demand decreases.
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Retention strategies work best when___ A. there is no skew in the company’s customer base. B. there is no elite segment of high profit customers. C. industry retention levels are low. D. there is a steep skew in a company’s customer base. E. A and B
Answers
Retention strategies work best when there is a steep skew in a company's customer base. The correct answer is D.
Retention strategies are most effective when there is a significant difference between the value of different customer segments. This is because it allows companies to focus their resources on retaining the most valuable customers, rather than trying to retain all customers equally.
By targeting the customers that generate the most profit, companies can maximize the return on their investment in retention strategies.
In contrast, if there is no skew in the customer base, or if there is no elite segment of high profit customers, retention strategies are less effective because there is no clear target for the company to focus on.
Similarly, if industry retention levels are low, it may be more difficult for a company to implement effective retention strategies, as there may be external factors at play that make it difficult to retain customers.
The correct answer is D.
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As you read through the draft of your message, you consider whether parts of your message should be rearranged to make your point more effective. Proofreading Evaluating Editing
Answers
Answer:
The correct answer will be "Editing".
Explanation:
Editing seems to be the process where even the letter being written is reconstructed or reconfigured to more efficiently express the letter. Arranging, modifying, as well as assembling a recorded, written, or video content for official completion, commonly by such an individual except for the producer of the content (considered as an editor).The other options in question aren't relevant to the particular circumstance. So the option available here is just the right one.
what agency has the ultimate authority in defining independence for public companies? multiple choice the aicpa the sec the department of justice the u.s. congress
Answers
SEC agency has the ultimate authority for defining independence for public companies. So the correct option is C.
The United States Securities and Exchange Commission is an autonomous body of the federal government of the United States.
The SEC was established, along with the 1934 Stock Exchange Act, for the restoration of investor trust in our capital markets, through a accurate knowledge and consistent rules for fair dealing between investors and markets.
A three-part mission is to secure investors through the U.S. Securities and Exchange Commission (SEC). Keep markets equal, orderly and effective. Enabling the development of capital.
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What agency has the ultimate authority for defining independence for public companies?
A. AICPA.
B. SEC.
C. Department of Justice.
D. Congress.
How much should you deposit at the end of six months in an account paying 14% compounded semi-annually to receive semi-annual payments of P2,000 for the next 8 years?
Answers
The amount that you should deposit (present value) at the end of six months in an account paying 14% compounded sem-annually to receive semi-annual payments of P2,000 for the next 8 years is P18,893.30.
What is the present value?The present value is the future cash flows discounted at an interest rate to the current period.
Discounting is the opposite of compounding as the latter computes the future value while discounting computes the present value.
The present value is computed using the PV factor or an online finance calculator as follows:
N (# of periods) = 16 semiannual periods (8 years x 2)
I/Y (Interest per year) = 14%
PMT (Periodic Payment) = P-2000
FV (Future Value) = P0
Results:
PV (Present Value) = P18,893.30
Sum of all periodic withdrawals = P32,000.00 (P2,000 x 16)
Total Interest =P13,106.70
Thus, if you deposit P18,893.30 compounded at 14% in six months, you can withdraw P2,000 semiannually for 8 years.
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Preparing equipment that is used in a process is considered overproduction muda.
a. True b. False
Answers
It is false that the preparation of the equipment in a production process is considered as muda overproduction.
What is team preparation?The preparation of equipment is a term that refers to the process of putting into operation different elements that will contribute to a production process so that it works effectively and the owner has the highest productivity.
Why is it not considered as an overproduction?The preparation of the equipment should not be considered as an overproduction since it is a necessary process for the start-up of a factory. Therefore, the products that can be manufactured in the process of preparing the equipment are not considered overproduction because they are products that are not going to be used later nor will they have all the quality standards to sell or offer to consumers.
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Which of the following skills are required to be an effective project manager?
Answers
Answer:
The most important skills of a project manager include communication, teamwork, time management, budgeting
Explanation:
Following are the characteristics of effective project manager
The communication skills of project manager should be effective in nature.
The project manager should have central leadership expertise.
The Project managers should have decision-making skills because the best decision makes the company in profit.
In a good project manager, his team members can express their goal really well.
The project manager tends to keep his peace of mind the whole time and is continuously focused so not to stop losing himself and potentially impact his team culture..
The project manager also takes care of time and submit the project in time.
The effective project manager also keeps in mind the budget before starting the project.
All the other options are not related to skills of effective project manager that's why they are incorrect option.
A business that accepts payments by credit and debit cards A. almost always pays a fee to the processor to cover the processing costs B. is usually unable to attract more customers C. generally receives proceeds from credit and debit card transactions 30-45 days after the sale D. must check each customer's credit rating
Answers
Answer:
HOPE THIS HELPS
Explanation:
A. it's almost always pays a fee to the processor to cover the processing costs.
A manufacturing company had been under pressure to increase profits, so it
began to produce additional goods. The company was encouraged by the
initial increases in revenue, even though profits per item produced were lower
than average. Still, total profits increased, so the company decided to make
another significant increase in production. This time, however, the profit per
item had decreased so much that the company made almost no extra profit
from the increase in production. This situation illustrates what concept?
A. Law of diminishing returns
O B. Cross-training
O C. Productivity analysis
D. Comparative advantage
Answers
Because the law of diminishing returns argues. that the expansion of a business must always consider the demand and if it does not the graph will lower into the diminishing returns that is less and less profit for the firm.
Keiko is looking at the following investment choices and wants to know what annual rate of return each choice produces.
a. invest $ and receive $ in years.
b. invest $ and receive $ in years
Answers
Keiko is looking at the following investment choices and wants to know what annual rate of return each choice produces:
a. invest $ and receive $ in years.
b. invest $ and receive $ in years
Mentioned Below:-
a. 5.18%;
b. 10.12%;
c. 6.32%;
d. 9.22%.
We apply the formula of Annual rate of return to calculate the four cases.
The formula for calculating the annual rate of return is as below:
Annual rate of return = \(year\sqrt{Endingvalue/Beginningvalue}\)-1 ;
So, for each of the cases given, by applying the formula, the detailed calculations for each case will be:
+ For case a :
\(12\sqrt{769.5/420}-1\) = 5.18%;
+ For case b:
\(14\sqrt{11,567.45/3,000}-1\) = 10.12%;
+ For case c:
\(20\sqrt{110,000/32,303.47} -1\) = 6.32%;
+ For case d:
\(40\sqrt{1,100,000/32,275.63} -1\) = 9.22%.
A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to utilize it as a source of immediate consumption, but rather as a tool for future wealth creation.
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4. assets taken out of a business for the personal use of the owner are called (a) net income. (b) net loss. (c) investments. (d) withdrawals.
Answers
Assets taken out of a business for the personal use of the owner are called (c) investments.
Investments could include withdrawing funds from a business account to purchase items for personal use, or taking out a loan from the business in order to make a personal purchase.
The tax implications of such investments should be carefully considered, as the owner may be liable for tax on the income generated from these investments. It is also important to remember that the funds taken out of the business must be repaid in order for the business to remain financially viable.
Taking out investments without proper planning could lead to significant financial losses for the business.
Assets taken out of a business for the personal use of the owner are called investments. These can range from stocks and bonds to real estate and cash. Investing in your business is a great way to ensure its long-term growth and success.
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Technical analysis is the study of which one of the following as the basis for trading? O financial statements O investor's required return O dividend growth O systematic risk O historical prices
Answers
Technical analysis is the study of historical prices as the basis for trading.
Option (e) is correct.
Technical analysis is a method used by traders and investors to evaluate financial markets and make trading decisions based on the analysis of historical price patterns, trends, and market data. It focuses on studying charts, price movements, volume, and other technical indicators to identify patterns and trends that can help predict future price movements.
Technical analysts believe that past price behavior can provide insights into future price movements, and they use this information to make trading decisions, such as when to buy or sell securities.
Therefore, out of the options provided, historical prices are the basis for trading in technical analysis.
Therefore, option (e) is correct.
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Please help
4. In which type of economy is a business owner most likely to benefit from free enterprise?
Answers
Answer:
In which type of economy is a business owner most likely to benefit from free enterprise? (1 point) In a market economy because there is lots of competition and not much take back from the government. This economy is ideal for a free enterprise.
What are called public services? Give any five examples.
Answers
Answer:
Supplying gas or electricity MilitaryPublic transportation ( Bus, Trains+)Emergency services Public broadcasting ( includes television, radio+)Explanation:
hopefully this helps !
Explanation:
Supplying gas or electricityMilitaryPublic transportation ( Bus, Trains+)Emergency servicesPublic broadcasting ( includes television, radio+)Thanking myself for the wonderful answer <33
Which of the following tasks would be completed by a radio announcer
Answers
Answer:
Research questions for interviewing guests.
Explanation:
A Radio Announcer has several responsibilities among which could be research questions for interviewing guests, and be the voice of the show, he would have to do troubleshooting, nor train customers, he shouldn´t need to install telecommunication equipment, so the only responsibility that the radio announcer would have from the options would be D) Research questions for interviewing guests.