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Tasya [4]
3 years ago
15

The adjusted trial balance of Blossom Company at December 31, 2019, includes the following accounts: Common Stock $17,200, Divid

ends $7,000, Service Revenue $38,900, Salaries and Wages Expense $16,200, Insurance Expense $2,400, Rent Expense $4,600, Supplies Expense $1,000, and Depreciation Expense $1,200. The balance in Common Stock is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $13,500 for the year and Retained Earnings is $7,900 on January 1.

Business
1 answer:
kap26 [50]3 years ago
4 0

Answer:

Explanation:

Before preparing the retained earning statement, first we have to compute the closing balance of retained earning which is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $7,900 + $13,500 - $7,000

= $14,400

The statement of retained earnings is presented in the spreadsheet. Kindly find the attachment below:

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it is an old saying, which means unlike some of the other academic you have undertaken, philosophy will not directly put food on the table. Your dough will have to come from other endeavors.

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3 years ago
Brianna, a salesperson for Cosmetics Corporation, learns that Cosmetics will increase the dividend it pays to shareholders. Bria
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traded on information that was not available to the public.

Explanation:

Brianna, a salesperson for Cosmetics Corporation, learns that Cosmetics will increase the dividend it pays to shareholders. Brianna buys 10,000 shares of Cosmetics stock. When the price increases, Brianna sells the shares for a profit. If Brianna is liable for insider trading, it is because she traded on information that was not available to the public.

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3 years ago
The differences between the two are that ________ involve(s) both manufacturing and procurement with multiple manufacturers, sup
maks197457 [2]

The differences between the two are that <u>supply chain </u>involve(s) both manufacturing and procurement with multiple manufacturers, suppliers, and retail companies.<u> logistics </u> refers to distribution activities in one company.

<h3>What is Supply chain and logistics?</h3>

Supply chain has to do with production or manufacturing and distribution of goods produce to suppliers, retailers or customers while logistics has to do transporting or distribution of goods or products.

Supply chain involve the following:

  • Manufacturer
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Logistics involve:

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Inconclusion <u>supply chain </u>involve(s) both manufacturing and procurement with multiple manufacturers, suppliers, and retail companies.<u> logistics </u> refers to distribution activities in one company.

Learn more about supply chain and logistics here:brainly.com/question/25160870

4 0
2 years ago
Molly Jasper and her sister, Caitlin Peters, got into the novelties business almost by accident. Molly, a talented sculptor, oft
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a. The computation of Mollycaits' operating break-even point is <em>2,473 units</em> ($4,500/$1.82).

b. The calculation of Mollycaits' EBIT on the department store order is <em>$812.40</em> ($9,500 - $8,688).

c. If department stores' price were $9.51, the EBIT will be <em>$5,387</em> ($14,075 - $8,688).

Note that for (b) and (c), the fixed cost is not considered.

d. Without paying more than $7.69, the quantity that will result in an EBIT of $3,700 is <em>4,505 units</em> ($4,500 + $3,700)/$1.82

e.  Varieties of Mollycaits = 15 with variable cost of $5.87

f. The recommendation to Molly and Caitlin with regard to pricing and varieties to offer is that, while the company can varieties to suit the needs of customers, it must ensure that it does not price them below $5.87, its operating cost.

Data and Calculations:

<u>Special contract</u>:

Units of figurines offered = 1,480

Sales value of offer = $9,500

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Contribution margin per unit = $0.55 ($6.42 - $5.97)

<u>Normal business</u>:

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Thus, Molly and Caitlin can offer various types of figurine, but they must sell at least 2,473 units to break-even.

Learn more about computing break-even points here: brainly.com/question/9212451

5 0
2 years ago
Suppose that initially a bank has excess reserves of $800 and the reserve ratio is 30%. Then Andy deposits $1,000 of cash into h
ratelena [41]

Answer:

excess reserves after lending  = $900

so correct option is C) $900

Explanation:

given data

reserves = $800

reserve ratio = 30%

deposits = $1,000

bank lends = $600

to find out

That bank can lend an additional

solution

first we get required reserves from new deposit that is express as

required reserves  = deposit × reserve ratio      ......................1

put here value

required reserves  = $1000 × 30%

required reserves  = $300

and

now excess reserves from new deposits will be  

excess reserves = deposits - required reserves     .......................2

put here value

excess reserves = $1000 - $300

excess reserves  = $700

and

total excess reserves  will be here

total excess reserves = old excess reserves + new excess reserves     ...........3

put here value

total excess reserves =  $800 + $700

total excess reserves = $1500

so that

excess reserves after lending is here express as

excess reserves after lending  = excess reserves - amount given to Molly   ..........................4

put here value

excess reserves after lending  = $1500 - $600

excess reserves after lending  = $900

so correct option is C) $900

3 0
3 years ago
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