1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ANEK [815]
3 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]3 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

You might be interested in
On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20
Leni [432]

Answer:

The amount of cash received on January 24 is $3332

Explanation:

The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.

The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400

The discount received will be = 3400 * 2% =  $68

Thus, the cash received on January 24 will be 3400 - 68  =  $3332

6 0
3 years ago
On december 31, 2015, cool wear inc. had balances in accounts receivable and allowance for uncollectible accounts of $41,000 and
Wewaii [24]

$6,000.00 - ($2,050.00 - $750.00) =

$6,000.00 - $1,300.00 = $4,700.00

Bad debt expense for 2019 would be: $4,700.00

6 0
3 years ago
Stickel Company has the following sales​ budget: Month Cash Sales Credit Sales September ​$100,000 ​$200,000 October ​125,000 ​1
NISA [10]

Answer:

$182300

Explanation:

$182300

September credit sales  account for 40% of October accounts receivable since it will be paid one month following sales

October credit sales will account for 50% of account receivable since it is paid in the month of sale

the calculation has been done in the attachment for further explanation

     

Download docx
7 0
3 years ago
Countries with high rates of economic growth tend to have
Romashka-Z-Leto [24]

Answer: A labor force that is more productive

Explanation:

  According to the given question, a good productive labor force helps in producing the various types of products and the services in the market and also maintain the economical growth of the country.

 The high rates of the economical growth are tends to have a labor force which is more productive as it helps in supplying the finished goods and the services according the demand and the requirement of the customers.

The high productivity helps in increase the economical growth of an organization and also increase the umber of employment in the country.      

 Therefore, the given answer is correct.    

   

7 0
3 years ago
If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would b
rosijanka [135]

Answer:

The answer is D. Income statement

Explanation:

5 0
3 years ago
Other questions:
  • The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $
    9·1 answer
  • If fixed costs are $400,000 and the unit contribution margin is $20, how many units must be sold in order to realize an operatin
    11·1 answer
  • In order for a driver to graduate from a learner’s license to an operator’s license, how many hours of driving need to be docume
    10·1 answer
  • Jean-Baptiste Say thought that entrepreneurs should be considered a fourth factor of production. Do you agree or not? Explain yo
    8·1 answer
  • Three examples of when interest rates are bad for you​
    13·1 answer
  • Gutierrez Company reported net income of $196,100 for 2020. Gutierrez also reported depreciation expense of $47,400 and a loss o
    13·1 answer
  • A project has an initial cost of $2,400. The cash inflows are $0, $1,600, $1,100, and $700 over the next four years, respectivel
    8·1 answer
  • 3. Which part of a letter identifies the address of the person writing the letter
    9·1 answer
  • During her day, Tiara often works on about eight different cars fixing any problems and making suggestions to customers about ho
    15·2 answers
  • a data analyst wants to create a shareable report of their analysis with documentation of their process and notes explaining the
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!