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lesantik [10]
1 year ago
13

As of December 31, 2018, Moss Company had total cash of $160,000, notes payable of $86,000, and common stock of $52,800. During

2019, Moss earned $40,000 of cash revenue, paid $22,000 for cash expenses, and paid a $3,400 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b
Business
1 answer:
tatyana61 [14]1 year ago
6 0

Given:

Total cash = $160,000

Notes payable = $86,000

Common stock = $52,800

Find:

Retained earnings as on December 31, 2018

Computation for retained earning:

According to Accounting Equation:

Assets = Liabilities + Stock holder equity

Total Cash = Notes payable + Common stock + Retained earning

$160,000 = $86,000 + $52,800 + Retained earning

$160,000 = $138,800 + Retained earning

Retained earning = $160,000 - $138,800

Retained earning = $21,200

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The genius of public corporations stems from their capacity to allow efficient sharing or spreading of risk among many investors
olga nikolaevna [1]

Answer:

The correct answer is B. the limited liability of shareholders.

Explanation:

The legal representative of the bondholders is a mandatory figure in the issuance of bonds traded in the stock market. The legal representative of the bondholders has the primary function of performing the necessary acts for the exercise of the rights and the defense of the interests of the holders. Its activity is regulated, which includes a series of duties of management, defense, communication and conservation of mandatory compliance. In addition, he acts as spokesperson for the bondholders before the issuer, the Financial Superintendence of and third parties.

The legal representative of the bondholders will respond up to a slight fault in the fulfillment of their obligations.

5 0
1 year ago
Which two of these are essential for completing an initial mortgage loan application?
Vitek1552 [10]

*Your name.

*Your income.

*Your Social Security number (so the lender can check your credit)

*The address of the home you plan to purchase or refinance.

*An estimate of the home's value.

*The loan amount you want to borrow.

4 0
1 year ago
Nieto Company’s budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $ 2
inn [45]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Budgeted Sales:

January $ 237,400

February 251,400

March 336,600

Nieto’s sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible.

Cash collection March:

Cash sales= 336,600*0.3= 100,980

Credit Sales March= (336,600*0.7*0.1)= 23,562

From February= (251,400*0.7*0.5)= 87,990

From January= (237,400*0.7*0.36)= 59,824.8

Total= 272,356.8

4 0
1 year ago
Warbler Gift's reported the following information for the sales of their single product: Total Per Unit Sales $ 300,000 $ 10 Var
Marysya12 [62]

Answer: Requitred units =34,285.7 units

Explanation:

GIVEN

                                     Total          Per Unit Sales

                                   $ 300,000   $ 10

Variable expenses   180,000     <u>   $6 </u>

Contribution margin 120,000       $ 4

Fixed expenses        100,000

Net operating income $ 20,000

New selling price=Old price - prosed price

=$10-$0.5  =  $9.5

Revised contribution margin=  Selling price-Variable costs

= $9.5-$6=$3.5

Proposed Contribution margin=Net operating income + Fixed expenses.

=(100,000 +20,000)= $120,000

Required units to be sold=Proposed Contribution margin/Contribution margin per unit

= $120,000/$3.5

=34,285.7 units

5 0
1 year ago
Which of the following statements is consistent with the ideas that W. Edwards Deming promoted regarding quality management? a.
a_sh-v [17]

Answer:

d. Understanding variation is essential to improving quality.

Explanation:

Deming develop a theory of variation. He said that is normal that business face changes and systems variate, but he specified that is essential for managers to identify and understand special and common causes of variation. He affirms that only managers have the authority to change the causes of variation and then they must to avoid repeated problems.

7 0
1 year ago
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