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2 years ago

Wolfpack Construction has the following account balances at the end of the year.

Business

1 answer:

Artist 52 [7]2 years ago

5 0

Answer:

Find the balance sheet below:

beginning retained earnings=$47,800-$39,800=$8,000

Explanation:

Net income for the year =service revenue-salaries expense=$38,000-$32,000=$6,000

retained earnings=net income=$6,000

Wolfpack Construction Balance Sheet as at year end

Non-current assets

equipment $25,000

land $17,000

Total non-current assets $42,000

Current assets:

cash $5,800

total current assets $5,800

Total assets $47,800

Common stock $12,000

retained earnings $6,000

total stockholders' equity $18,000

current liabilities:

accounts payable $2,800

notes payable $19,000

Total liabilities $21,800

Total liabilities and equity $39,800

The difference between the total assets and total equity plus liabilities may be due to beginning retained earnings figure which was not provided

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Daniels Transport has operating income of $68,200, interest expense of $210, dividends paid of $320, depreciation of $12,400, ot

Kisachek [45]

Answer:

Option (a) is correct.

Explanation:

Given that,

Operating income = $68,200

Interest expense = $210

Dividends paid = $320

Depreciation = $12,400

Other income = $2,100

common stock = $48,500 with a par value of $1 per share

Retained earnings = $29,700

Income before taxes:

= Operating income - Interest expense + Other income

= $68,200 - $210 + $2,100

= $70,090

Net income:

= Income before taxes - Taxes at 21%

= $70,090 - ($70,090 × 21%)

= $70,090 - $14,719

= $55,371

Shares of common stock outstanding:

= Common stock ÷ Par value per share

= $48,500 ÷ $1

= 48,500 shares

Earnings per share:

= (Net income - Preferred dividend) ÷ Shares of common stock outstanding = ($55,371 - 0) ÷ 48,500

= $1.14 per share

Therefore, the earnings per share if the tax rate is 21 percent is $1.14.

3 0

2 years ago

Richard created an advertisement that included a scientific explanation of how clothes are cleaned beside the image of washing m

olga2289 [7]

Answer:

Richard should have use brevity and percision in his ad to make it better.

Explanation:

Brevity is similar to shortness and percision is the most suitable answer because fluidity means changable and the comparability mean it can be similar and comparable

4 0

2 years ago

Rick took his family to a major league baseball game. he gave his son $100 to buy food and drinks for the group. hot dogs cost $

Alchen [17]

Rick gave his son $100 to buy food and drinks. His son returned with $25.50 in change. Therefore the amount spent was
$100 - $25.50 = $74.50.

Let
x = number of hot dogs bought (at $3.50 per hot dog).
y = number of milk shakes bought (at $8 per milk shake).
There were 8 orders of soda at $5 per soda.

The total order is $74.50, therefore
3.50x + 8y + 8*5 = 74.50
Simplify to obtain
8y = 74.5 - 3.5x
y = 4.3125 - 0.4375x

We must have whole numbers (integers) for x and y.
Create a table that varies x from 0 to 8, and look for y to be an integer, as shown below.

x y
--- -------
0 4.3125
1 3.8750
2 3.4375
3 3
4 2.5625
5 2.1250
6 1.6875
7 1.2500
8 0.8125

Because we cannot have fractional values for either x or y, the solution is x=3, y=3

Answer:
3 hot dogs, 3 milk shakes, and 8 sodas.

5 0

2 years ago

Before your first day of work, it is a good idea to _____.

liraira [26]

Before your first day of work, it is a good idea to : C. Drive to work to see how long it takes

One of the most important thing to do in your first day of work is to display a good first impression, and coming late to your work at the first day will destroy your boss' first impression about you, in order to avoid that, you should check out the amount of time needed to get to work

3 0

2 years ago

You believe that you can earn 2% more on your portfolio if you engage in full-time stock research. However, the additional tradi

Korolek [52]

Answer:

the most spend on research will be $12,000

Explanation:

given data

earn = 2% more

trading costs = 0.5%

stock portfolio = $800,000

solution

we know that here net earnings due to research is expected is

net earnings due to research = 2% - 0.5 % = 1.5 % of stock portfolio

spend on research is = 1.5 % of stock portfolio

spend on research is = $800,000 × 1.5%

spend on research is = $12,000

so here when we spend more than $12,000 it end up in a net loss

so the most spend on research will be $12,000

6 0

2 years ago