Answered step by step
Verified Expert Solution
Question
1 Approved Answer
NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up) 155 Marjam Company owns 70,200 shares of
NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up)
155 Marjam Company owns 70,200 shares of Mackenzie Company's 130,000 outstanding shares of common stock. Mackenzie Company pays $130,000 in total cash dividends to its shareholders. Marjam's entry to record the cash dividend received from Mackenzie would include a: Multiple Choice . Credit to Dividend Revenue for $26,500. Debit to Dividend Revenue for $14,310. (C) Credit to Equity Method Investments for $70,200. Credit to Equity Method Investments for $26,500. O Debit to Interest Revenue for $14,310. o 156 Jordan's net income for the year ended December 31, Year 2 was $197,000. Information from Jordan's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2 At December 31 Common Stock, $5 par value Paid-in capital in excess of par Retained earnings Year 2 Year 1 $512,800 $460,800 960,000 863,800 700,000 592,800 Multiple Choice O $197,000. $96,200. $107,200 0 $51,200. $147,400. Use the following information to calculate cash paid for income taxes: 157 Income tax expense Income tax payable, January 1 Income tax payable, December 31 $70,000 29,000 17,000 Multiple Choice S82.000. s87000. S99,000. S58,000. S70,000. 158 The standard materials cost to produce 1 unit of Product R is 8 pounds of material at a standard price of $56 per pound. In manufacturing 8,800 units, 67,600 pounds of material were used at a cost of $58 per pound. What is the direct materials price variance? Multiple Choice $156,800 unfavorable. $156,800 favorable. S21,600 favorable. S135,200 unfavorable. $135,200 favorableStep by Step Solution
There are 3 Steps involved in it
Step: 1
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