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Law Incorporation [45]
3 years ago
5

Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financi

al data for the company are available: Accounts Payable$33,000 Accounts Receivable 59,950 Cash 13,500 Common Stock 63,030 Dividends 230 Equipment 32,000 Notes Payable 1,500 Operating Expenses 61,700 Other Expenses 9,000 Sales Revenue 87,300 Supplies 8,450 Prepare a statement of retained earnings for the year ended December 31.
Business
1 answer:
Mademuasel [1]3 years ago
3 0

Answer:

Ending retained earnings is     $ 16,370.00  

Explanation:

Before preparing the statement of retained earnings for the year ended December 31, the net income for the current year needs to be ascertained.

net income=sales revenue-operating expenses-other expenses

net income=$87,300-$61,700-$9000=$ 16,600.00  

Statement of Retained earnings for the year ended 31 December:

Beginning retained earnings     $0

net income                                  $16,600

dividends                                    ($230)

ending retained earnings         $ 16,370.00  

   

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Quick Computing currently sells 9 million computer chips each year at a price of $11 per chip. It is about to introduce a new ch
irga5000 [103]

Answer:

overall effect for the first year will be an increase of 94 millions in the cash flow.

Explanation:

The chip will provide:

27 million x $ (14 - 10) each = 104 millions of gross profit

But, decreases gross profit from older chip at rate of:

2 million x $ (11 - 6) each = 10 millions per year

The Chip will generate 104 gross profit but reduce other chip division profit by 10 million

<u>overall effect for the first year will be of 94 millions postive</u>

8 0
3 years ago
When preparing the statement of cash flows using the indirect​ method, a decrease in current liabilities is added to the net inc
sergij07 [2.7K]

Answer:

b) false

Explanation:

Operating activities: It contains those transactions that affect the after-net income working capital. It would subtract the increase in current assets and a decline in current liabilities, while adding the reduction in current assets and a rise in current liabilities.

Therefore, the given statement is false.  

7 0
3 years ago
Companies do their own tracking and monitoring of their customersâbehavior and they also hire research firms to do which type of
iren2701 [21]

Answer:

A) primary research

Explanation:

Primary research is defined as a methodology used by researchers to collect data directly, rather than depending on data collected from previously done research. Technically, they “own” the data.

Primary research is solely carried out to address a certain problem, which requires in-depth analysis.

Companies that specialize in interviewing, observing, recording and analysing the behaviour of those who purchase good and service are called primary research suppliers.

7 0
4 years ago
The best type of account for money you use to pay regular bills is
notka56 [123]

Answer:

D

Explanation:

Savings account as the name implies is supposed to make money for you via interest while putting money away for future expenditure. Checking is best for regular financial spending.

5 0
3 years ago
In the product markets of the circular flow model, households provide __________ to the business sector in exchange for goods an
blsea [12.9K]

In the product markets of the circular flow model, households provide <u>Consumption Spending (or Revenues) </u>to the business sector in exchange for goods and services.

Consumer spending is the total amount of the money spent by people and families in an economy on finished goods and services for their own use and enjoyment. All private purchases of durable, nondurable, and service products are included in modern measurements of consumer spending.

To help estimate and plan investment and policy decisions, investors, corporations, and regulators regularly monitor published statistics and reports on consumer spending.

To know more about consumer spending, click here:-

brainly.com/question/14809763

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4 0
2 years ago
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