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ANEK [815]
4 years ago
6

Grizzly Company had Retained Earnings at December 31, 2018 of $300,000. During 2019, the company had revenucs of $600,000 and ex

penses of $525,000, and the company declared and paid dividends of $16,500. Retained earnings on the balance sheet as of December 31, 2019 will be
a. $375,000
b. $358,500.
c. $58,500.
d. $433,500.
Business
1 answer:
scZoUnD [109]4 years ago
3 0

Answer:

b. $358,500

Explanation:

Given;

Retained Earnings at December 31, 2018 = $300,000

In 2019,

Revenue = $600,000

Expenses = $525,000

Declared and paid dividends = $16,500

Retained earnings on the balance sheet as of December 31, 2019

= $300,000 + $600,000 - $525,000 - $16,500

= $358,500

The right option is b. $358,500

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Which career requires less education than an Auditor?

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3 years ago
Assessments of the currency of diversity plan
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It is one that  is made up of people from a lot of backgrounds. It is a said to be a kind of a commitment by the company to make an environment that is fair.

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8 0
1 year ago
Marin Company uses a perpetual inventory system. Its beginning inventory consists of 65 units that cost $44 each. During June, (
Anastaziya [24]

Answer:

                                              Dr.               Cr.

(1)

The company purchased

195 units at $44 each

Inventory (195 x 44)            8,580

Account Payable / Cash                      8,580

(2)

Returned 8 units

for credit

Account Payable / Cash      352

Inventory (8 x 44)                                    352

(3)

Sold 163 units

at $65 each.

Account receivable / Cash  10,595

Sales ( 163 x 65 )                                     10,595

Cost of Goods sold                7,172  

Inventory                                                   7,172

Inventory Account:                    Dr.            Cr.            Balance

Opening Balance ( 65 x $44 )                                      $2,860

(1) Purchase                              $8,580                         $11,440

(2) Purchase Return                                  $352           $11,088

(3) Sale                                                       $7,172         $3,916

Inventory Closing Value is $3,916.

6 0
4 years ago
During its most recent period, Raymond Manufacturing expected a job to cost $600,000 of overhead, $1,000,000 of materials, and $
Dima020 [189]

Answer:

Over-applied by $70,000

Explanation:

Overhead Rate: Expected overhead / Expected Labor cost

Overhead Rate: $600,000 / $400,000

Overhead Rate: 150% or $1.5 for every $1 cost of labor

Overhead Applied

Actual Labor Cost: $440,000

Overhead Applied: $440,000 * 150%

Overhead Applied: $660,000

Actual Overhead: $590,000

Over-Applied: Applied Overhead - Actual Overhead

Over-Applied: $660,000 - $590,000

Over-Applied: $70,000

4 0
4 years ago
Manipulation​ Manufacturing's (AMM) standards anticipate that there will be 5 pounds of raw material used for every unit of fini
gregori [183]

Answer:

price variance: <em>1</em><em>3</em><em>,</em><em>0</em><em>50 favorable</em>

quantity variance:<em> -1,760 unfavorable</em>

Explanation:

standard quantity 5

standard price 1.1 per pound

actual quantity for 4900 units

beginning \: inventory + purchases  = ending \: inventory + used

8000 + 25,500 -7,400 = 26,100 pounds

standard quantity 4,900*5= 24,500

actual price 15,300/25,500 = 0.60

standard price = 1.10

price \: var = actual \: pounds(STD \: price  - actual \: price)

26100(1.1 - 0.6) = 13050 \: favorable

Because actual is lower than STD the company saved money spending. It is favorable.

quantity \: var = STD \: price(STD \: quantity  - actual \: quantity)

1.10(24500 - 26100) =  - 1760 \: unfavored

Because the company used more pounds than STD the quantity variance is unfavorable

8 0
3 years ago
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