Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 01, 2023

Incentive Corporation has $32,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of

Incentive Corporation has $32,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute?

Step by Step Solution

★★★★★

3.28 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the maximum amount of cash dividends that the company can declare and distribute we nee... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a risk based approach to conducting a quality audit

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

9th edition

9781133939160, 1133939155, 1133939163, 978-1133939153

More Books

Students also viewed these Accounting questions

Question

★★★★★

Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $ 1 par value. During its first year, the following selected transactions were completed: a. Issued 6,000...

Answered: 1 week ago

Question

★★★★★

Incentive Corporation was organized in 2012 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $4 per share, 12,000 shares. During...

Answered: 1 week ago

Question

★★★★★

The Unadjusted trial balance of North Bank on 31st December 2019, follows 1- Consolidate the trial balance of head office and the branch. Other data: 1- Company which has a deposit account at the...

Answered: 1 week ago

Question

★★★★★

Design a plan to research and select a new or used automobile.

Answered: 1 week ago

Question

★★★★★

Tax Agency Fund. The county collector of Lincoln County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county...

Answered: 1 week ago

Question

★★★★★

9.10 During the past seven years, the returns on a portfolio of long-term corporate bonds were the following a. Calculate the average return for long-term corporate bonds over this period. b....

Answered: 1 week ago

Question

★★★★★

2. Identify the faculty members in your psychology department whose backgrounds are in experimental, developmental, social, cognitive, or biopsychology. Select one whose research area interests you...

Answered: 1 week ago

Question

★★★★★

Suppose the School Company has this book value balance sheet: The current liabilities consist entirely of notes payable to banks, and the interest rate on this debt is 10 percent, the same as the...

Answered: 1 week ago

Question

★★★★★

disregard.

Answered: 1 week ago

Question

★★★★★

1. What is the cost of debt for Sunrise Bakery? 2. What is their cost of equity? 3. What is the WACC? 4. Which cost of capital should be used to evaluate the feasibility of the oven purchase? 5....

Answered: 1 week ago

Question

★★★★★

Sunland Company purchased equipment in 2019 at a cost of $889000. Two years later it became apparent to Sunland Company that this equipment had suffered an impairment of value. In early 2021, the...

Answered: 1 week ago

Question

★★★★★

Use DeMoivre's Theorem to find the indicated power of the complex number. Write the answer in rectangular form. [3(cos 80 + i sin 80)] [3(cos 80 + i sin 80) = (Simplify your answer, including any...

Answered: 1 week ago

Question

★★★★★

Question 17 (515108) (Elastic Collisions} = (1 points) On a frictionless surface, a block of mass m 2 kg moves at a velocity of v = +6 m/s (towards the right) headed towards another block of m 1 kg...

Answered: 1 week ago

Question

★★★★★

Grifols is a global healthcare company that since 1909 has enhanced the health and well-being of people around the world. Four divisions - Bioscience, Diagnostic, Hospital and Bio Supplies - develop,...

Answered: 1 week ago

Question

★★★★★

In 2009, Starbucks' net income fell precipitously. The stores needed to make a change, so Schultz temporarily close all the stores and re-train the entire staff, (Schultz, 2013). Schultz felt the...

Answered: 1 week ago

Question

★★★★★

The NH Jones Manufacturing Company produces porcelain figurines. The molding department inspects damaged units when they are 65% complete. Direct materials are added at the end of the process, and...

Answered: 1 week ago

Question

★★★★★

Explain the link between Accountability and Digital Reporting

Answered: 1 week ago

Question

★★★★★

A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.

Answered: 1 week ago

Question

★★★★★

What substantive procedures could an auditor use to determine that all purchases debited to a fixed asset account in the current year are properly valued?

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

Define the terms prospective financial statements, financial forecast, and financial projection.

Answered: 1 week ago

Question

★★★★★

Burger Master bought the food concession for a baseball stadium for five years at a price of $1.2 million. If the operating profit is $400,000 per year, what IRR will Burger Master realize on its...

Answered: 1 week ago

Question

★★★★★

A venture requiring an immediate investment of $500,000 and an additional investment of $200,000 three years from now will generate annual profits of $150,000 for seven years starting in the first...

Answered: 1 week ago

Question

★★★★★

A machine can be leased for four years at $1000 per month payable at the beginning of each month. Alternatively, it can be purchased for $45,000 and sold for $5000 after four years. Should the...

Answered: 1 week ago

Previous Question Next Question