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Wendell Company provided the following pertaining to its recent year of operation:â€¢ Common stock with a $10,000 par value was

den301095 [7]

Answer:

Option (D) $27,000

Explanation:

Data provided in the question:

Cash dividends declared = $20,000

Dividends paid = $15,000

Net income = $70,000

Market value of the stock dividend = $23,000

Treasury stock = $9,000

Selling cost of the treasury stock = $7,000

Now,

Retained earnings increase during the recent year of operation will be

= Net income - Cash dividends declared - Market value of the stock dividend

= $70,000 - $20,000 - $23,000

= $27,000

Hence,

Option (D) $27,000

3 0

3 years ago

Under the principles of agency law, any sale of goods by a salesperson in a store to a customer can be binding on the owner of t

NeX [460]

Answer: True

Explanation:

Under Agency Law in relation to employment, the salesperson is acting as an agent of the owner of the store and as such is their representative. As their representative, it is assumed that whatever they are selling is from the Owner whom they represent and as such can be binding on the owner.

This is why the Agent must act in the best interest of the owner because the owner could be held negligent for the actions of their agents. For instance, a salesperson will not be sued for a faulty equipment that caused harm but the store can.

4 0

3 years ago

Evaluate how a change in consumer incomes will affect the demand

dalvyx [7]

Answer:

They will be less likely to rent an apartment and more likely to own a home. A product whose demand falls when income rises, and vice versa, is called an inferior good. In other words, when income increases, the demand curve shifts to the left.

For normal economic goods, when real consumer income rises, consumers will demand a greater quantity of goods for purchase. ... When nominal income increases without any change to prices, this means consumers can purchase more goods at the same price, and for most goods, consumers will demand more.

Explanation:

8 0

2 years ago

Lion Company's direct labor costs for the month of January were as follows: What was Lion's direct labor efficiency variance? Se

lakkis [162]

Answer:

Direct labor time (efficiency) variance= $6,150 favorable

Explanation:

Giving the following information:

Lion Company's direct labor costs for the month of January were as follows:

Actual total direct labor-hours 20,000

Standard total direct labor-hours 21,000

Direct labor rate variance - unfavorable $3,000

Total direct labor cost $126,000

First, we need to calculate the standard direct labor hour cost.

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 126,000/20,000= 6.3

-3,000= (SR - 6.3)*20,000

-3,000= SR20,000 - 126,000

123,000/20,000= SR

6.15= Standard rate

To calculate the direct labor efficiency variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (21,000 - 20,000)*6.15

Direct labor time (efficiency) variance= $6,150 favorable

7 0

3 years ago

Cooper Technologies is a technology company that offers many IT services in Chicago. The companyâ€™s services and products inclu

evablogger [386]

Answer:

broad needs and many customers.

Explanation:

Cooper technologies offers several services that satisfy a broad range of needs, e.g. computer training, support, selling computers, etc. It tries to serve as many customers as then can. This is true for all companies, but Cooper Technologies would be the opposite to a company that provides services to a niche market. They try to offer a wide range of products and services to appeal to as many customers as possible with as many products and services as they can.

Cooper Technologies is like a handyman that satisfies all your computer related needs, it doesn't focus on only one or two services.

8 0

3 years ago

​____ post ratings of products and services and contribute to and edit articles in wikis

____ post ratings of products and services and contribute to and edit articles in wikis