On November 1, 2017, Roosevelt, Inc. declared a dividend of $3.00 per share. Roosevelt, Inc. has 20,000 shares of common stock outstanding and no preferred stock. Prepare the journal entry to record this transaction
What will be an ideal response
Cash Dividends 60,000
Dividends Payable—Common 60,000
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Paige Company claims that its financial information is useful. Mention any four qualities that must be present in order to have "useful" accounting information? Explain these four qualities
Jared, Inc. produces glass shelves that are used in furniture. Each shelf requires 3.6 pounds of raw material at a cost of $2 per pound. Unfortunately, given the nature of the manufacturing process, one out of every five shelves is chipped, scratched, or broken at the beginning of production and has to be scrapped.On average, 20 good shelves are completed during each hour. Laborers who work on these units are paid $15 per hour.Required: A. Distinguish between perfection standards and practical standards.B. Who within an organization would be in the best position to assist in setting the: 1. direct-material price standard?2. direct-material quantity standard?3. direct-labor efficiency standard?C. Calculate a practical direct-material and direct-labor standard for each good shelf produced.
What will be an ideal response?
A perfect straight line sloping upward would produce a correlation coefficient equal to:
a. +1. b. -1. c. +2. d. -2.
____ are a good forum for regularly reviewing, updating, and addressing risks
a. Social gatherings of the team b. Project meetings c. Problem solving meetings d. Project planning meetings