Reference no: EM132681818
Questions -
Q1. On December 31, 2018, the balance in the Retained Earnings account is $18,500. On December 31, 2019, the balance of Retained Earnings is $17,100. During 2019, dividends of $4,200 were declared and paid. Based on this information, compute the net income for 2019?
a. $2,800
b. $7,000
c. $2,100
d. $4,200
Q2. The premium on a two-year insurance policy expiring on June 30, 2019, was paid in total on July 1, 2017. The original payment was debited to the insurance expense account. The appropriate journal entry has been recorded on December 31, 2017. The balance in the prepaid asset account on December 31, 2017, should be
a. The same as the original payment
b. Higher than if the original payment had been initially debited to an asset account
c. Lower than if the original payment had been initially debited to an asset account
d. The same as it would have been if the original payment had been initially debited to an asset account
|
Compute the income tax expense
: the debit and credit entries had balances of $24,750 and $38,750, If appropriate tax rate for Hogue Corporation is 30 percent, the 2019 income tax expense be
|
|
What the adjusting entry needed on december
: If Cristo Company used the expense approach to record the insurance purchased on June 30, the adjusting entry needed on December 31, 2017
|
|
Evoke interest and emotion in your reader
: A personal experience that had a strong emotional affect on you will evoke interest and emotion in your reader.
|
|
Precedence manner to create sequential logic
: Develop a set of activities necessary to accomplish that project, and then order them in a precedence manner to create sequential logic.
|
|
Compute the net income
: The balance of Retained Earnings is $17,100. During 2019, dividends of $4,200 were declared and paid. Based on this information, compute the net income
|
|
Quality management-specific strategies and tools
: Discuss the following points regarding the total quality management (TQM) concept:
|
|
The role of leadership
: Research and summarize senior management's role in successful quality improvement programs.
|
|
Calculate the total amount by which superior should change
: Superior Developers sells lots for residential development. Calculate the total amount by which Superior should change its deferred tax liability in 2021
|
|
What is the amount of its economic obligations
: If the economic resources of a business amount to P2,400,000 and its residual interest amounts to P1,995,000, what is the amount of its economic obligations
|