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MrRa [10]
2 years ago
15

Vaughn Manufacturing began the year with retained earnings of $114000. During 2022, the company issued $84500 of common stock fo

r cash. The company recorded revenues of $735000, expenses of $647000, and paid dividends of $36000. What was Vaughn's net income for the year 2022?
$136500

$172500

$88000

$52000
Business
1 answer:
aalyn [17]2 years ago
3 0

Vaughn's net income for the year 2022 is: c. $88,000.

<h3>Net income</h3>

Using this formula

Net income=Revenues - expenses

Where:

Revenues=$735,000

Expenses=$647,000

Let plug in the formula

Net income=$735,000-$647,000

Net income=$88,000

Therefore the correct option is c.

Learn more about net income here:brainly.com/question/15235984

#SPJ1

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Concord Company uses the FIFO method to compute equivalent units. It has 4000 units in beginning work in process, 20% complete a
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Answer:

67,840 units

Explanation:

The computation of the equivalent units for material by using the FIFO method is shown below:

<u>Particulars       Unit       Percentage completion   Equivalent units</u>

Opening

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“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrar
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Dan has a personal umbrella policy with a $1 million limit. The self-insured retention is $250. Dan has a homeowners policy with
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Answer:

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Answer:

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