Answer:
-$27,800
Explanation:
When the inventory closing balance is overstated, the cost of goods sold is understated and as such the net income which is posted to the retained earnings will be overstated
. When an expense is overstated, the net income is understated and so is the retained earnings.
The net overstatement of inventory across the two periods
= $58,500 - $10,500
= $48,000
The net overstatement of depreciation across the two periods
= $24,800 - $4,600
= $20,200
Adjustments to retained earnings
= - $48,000 + $20,200
= -$27,800
Answer:
A) $10 per person
B) $15000000
C) $30000000
D) $15000000
Explanation:
A) Cost of corn subsidies per person in the United States in 2012 = 3 billion/300 million = 3000000000/300000000 = $10 per person
B) We are told that 10 percent of 300 million population are those willing to provide funding. Thus;
Number of people providing funding = 10% × 300 million = 30,000,000
Each of these 30,000,000 people are willing to only provide $0.50.
Thus;
total funding raised for their lobbying efforts = $0.50 × 30,000,000
total funding raised for their lobbying efforts = $15000000
C) We are told that the recipients of corn subsidies donated just 1% of the total amount which they received via subsidies. Thus;
Amount raise to support lobbying efforts to continue the corn subsidy =
1% × $3 billion = $30000000
D). the difference between which the amount raised by the recipients of the corn subsidy exceeds that of the amount raised by the opponents of the corn subsidy = $30000000 - $15000000 = $15000000
Answer:
$1,050,000
Explanation:
Budgeted purchases= coats in inventory + budgeted sales- Beginning inventory expected coats
Budgeted purchases = 6,000 + 12,000 - 4,000 = 14,000 suits
14,000 suits x $75/suit = $1,050,000
Therefore the dollar amount of the purchase of suits if each coat has a cost of $75 is $1,050,000
Answer: A. Zero because all the gains offset the losses.
Explanation:
Based on the information given in the question, the net capital gain/loss for the current year will be:
First and foremost, we should note that the net income of $26,000 will not be added to our calculations.
Then, we then add the gain on capital assets from the options a-d given and subtract from the capital loss. This will be:
= $13,000 - ($23,000) + $4,000 + $6,000
= $13000 + $4000 + $6000 - $23000
= $23000 - $23000
= 0
Note that $23000 was subtracted because it was the only loss incurred on the capital asset from the options.
Answer:
The correct answer is D
Explanation:
Marginal principle is the principle which is referred to an increase in the activity level when the marginal advantage exceeds or more than the marginal cost.
So, the marginal principle of retained earnings would be when it will provide the higher rate of return than the shareholders who could achieve after paying taxes on the dividends.
