At the end of 2018, the federal government debt of the U.S. stood at 104% of GDP. Imagine that, unlike in previous years, from 2
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Answer:
c. Debit Cash $745; credit Note Receivable $745.
Explanation:
It is very difficult to understand your question since it is typed in a very complex manner. I have attached a screen shot that contains the similar question, it helped me and will help others to understand the data given.
a. This entry has already been recorded in the company's accounts. It should be reconciled with the Bank Account.
b. A miscellaneous expense has been incurred but it was paid and not on credit.
c. Correct Entry. As you can see that a Note Receivable has been collected by bank from customer. So, we have to increase the Cash balance by debiting it and remove the receivables by crediting it.
d. Sales transaction is never a part of Bank Reconciliation.
e. $745 has been collected from customer and not paid to vendor. The amount paid is $1,730 which is already recorded in the Books.
Answer:
Dividend Each Year shall be
Year 2015 2016 2017 2018
Preference $20,000 $28,000 $42,000 $30,000
Equity $0 $0 $158,000 $320,000
Total Dividend
Preference = $120,000
Equity = $478,000
Explanation:
When the preference dividends are cumulative in nature the dividends shall be paid each year of the rate specified, in case not paid the, it is carried forward.
In the given case, preference dividend = 80,000 shares $5
7.5% = $30,000
<u>Thus, in 2015</u>
Dividend to preference = $20,000
Dividend to Equity = $0
Also $30,000 - $20,000 = $10,000 shall be carried forward.
<u>2016</u>
Dividend to preference = $10,000 Arrears
Current year = $28,000 - $10,000 = $18,000
Carry forward = $30,000 - $18,000 = $12,000
Dividend to Equity = $0
<u>2017</u>
Dividend to preference = $12,000 Arrears
Current year = $30,000
Dividend to Equity = $200,000 - $30,000 - $12,000 = $158,000
<u>2018</u>
Dividend to preference = $30,000
Dividend to Equity = $350,000 - $30,000 = $320,000