answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ANEK [815]
2 years ago
6

Grizzly Company had Retained Earnings at December 31, 2018 of $300,000. During 2019, the company had revenucs of $600,000 and ex

penses of $525,000, and the company declared and paid dividends of $16,500. Retained earnings on the balance sheet as of December 31, 2019 will be
a. $375,000
b. $358,500.
c. $58,500.
d. $433,500.
Business
1 answer:
scZoUnD [109]2 years ago
3 0

Answer:

b. $358,500

Explanation:

Given;

Retained Earnings at December 31, 2018 = $300,000

In 2019,

Revenue = $600,000

Expenses = $525,000

Declared and paid dividends = $16,500

Retained earnings on the balance sheet as of December 31, 2019

= $300,000 + $600,000 - $525,000 - $16,500

= $358,500

The right option is b. $358,500

You might be interested in
Poornima is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence:
mixer [17]

Answer: C. Many decisions are made on the margin

Explanation:

One vital economic principle that is made by economic agents is that when making rational decisions, it involves thinking at the margin.

For one to take a particular action, one has to consider the benefits and costs that are involved and then see if the benefits outweigh the costs before the final decision is made.

Since her pool sessions are helping her swim more quickly, Poornima plans to reduce by 1 hour per week the time she spends training on the bike and increase by 1 hour the time she spends in the swimming pool.

This means the extra time allocated to swimming is beneficial and the basic principle of individual choice that Maria illustrate is that many decisions are made on the margin.

4 0
2 years ago
The Wester Corporation produces three products with the following costs and selling prices:
vitfil [10]

Answer:

Product A, then Product C and finally Product B

Explanation:

The unit profit  = Selling price per unit - Variable cost per unit - Fixed cost per unit

Unit Profit of product A = $21 - $11 - $5 = $5

Unit Profit of product B = $12 - $7 - $3 = $2

Unit Profit of product C = $32 - $18 - $9 = $5

The profit of each product in 1 machine hour = 1 hour/ Machine hours per unit * Unit Profit

Profit of Product A in 1 hour using machine = 1/0.2 * $5 = $25

Profit of Product B in 1 hour using machine = 1/0.5*$2 = $4

Profit of Product C in 1 hour using machine = 1/0.2* $5 = $25

Product A & Product C have same profit in 1 hour machine, then we have to consider Direct labor hours per unit which product A is 0.4 while product C is 0.7. It means Product C is more costly in direct labour than Product A.

In short, then the ranking of the products from the most profitable to the least profitable use of the constrained resource is Product A, then Product C and finally Product B

8 0
2 years ago
Read 2 more answers
Kohl Co, provides warranties for many of its products. The January 1, 2019, balance of the Estimated Warranty Liability account
Brums [2.3K]

Answer and Explanation:

The computation is shown below;

a. For Warranty Expense

= Sales × Estimated Warranty Percentage%  

= $4,144,400 × 0.87%%

= $36,056.28

b)

The amount that should be reported is

Opening Balance of Estimated Warranty Liability Jan. 1, 2019 $42,635

Less: Actual warranty costs in 2019 ($26,750)

Add: Warranty expense accrued in 2019 $35,056

Closing  Balance of Estimated Warranty Liability Dec. 31, 2019 $50,941

8 0
2 years ago
On march 12, klein company sold merchandise in the amount of $7,800 to babson company, with credit terms of 2/10, n/30. the cost
Ivenika [448]

The gross method of recording the sale is recording an account at its original price no deductions of the cash discounts offered.

Perpetual Inventory system bring up-to-date the inventory accounts when there is an acquisition or sale.

The journal entry would be:

Debit:


Accounts receivable 7,800 
Cost of goods sold 4,500

 

Credit:

Sales 7,800
Merchandise inventory 4,500

6 0
2 years ago
Which of the transactions listed here could be made into a recurring transaction? Select as many as are correct.(Select all that
professor190 [17]

Answer:

An expense, An invoice, An adjusting general entry

Explanation:

Well for the items provided,

Recurring transactions are those transactions which occur almost on a defined intervals. Recurring does not mean regular occurring, but it's occurring period is defined.

Therefore, Recurring Transactions are:

An expense = example monthly fixed payments of salary and wages, rent, utilities.

An invoice = this will be a regular transaction as issuing invoice to customers, is the daily business.

An adjusting general entry = as for like depreciation is fixed monthly,

Note: a customer payment is not recurring as it depends customer to customer as the payment is to be received or not, and at what interval it will be received.

Recurring transactions are:

An expense, An invoice, An adjusting general entry

6 0
2 years ago
Other questions:
  • A business consultant earns a flat fee for his work as well as an hourly fee. He charges his clients at a rate of $75 per hour.
    13·1 answer
  • The problem with relying on a point estimate of a population parameter is that:
    7·1 answer
  • Vaughn Manufacturing is planning to sell 600 buckets and produce 980 buckets during March. Each bucket requires 500 grams of pla
    10·1 answer
  • Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on
    10·1 answer
  • If a bushel of wheat costs $6.40 in the US and costs 40 pesos in Mexico and the nominal exchange rate is 10 pesos per dollar, th
    5·1 answer
  • Crafty Cookbooks Inc. is a large publisher that focuses on developing cookbooks with recipes from around the world. Recently, si
    14·1 answer
  • Until recently, hamburgers at the city sports arena cost $ 2.50 each. The food concessionaire sold an average of 1750 hamburgers
    10·1 answer
  • Taylor devotes a lot of time to his fam and his friends. It is obvious he values ______.​
    13·1 answer
  • Recruitment sources are unlimited; therefore, an organization must decide how to reach the best sources of potential employees.
    10·1 answer
  • Costco Wholesale Corp. has FCFE of $2.00 billion in the most recent year. The cash flows are expected to grow at the annual rate
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!