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solniwko [45]
3 years ago
14

The year-end 2018 balance sheet of Brandex Inc. listed common stock and other paid-in capital at $1,400,000 and retained earning

s at $3,700,000. The next year, retained earnings were listed at $4,000,000. The firm’s net income in 2019 was $930,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2019?
Business
1 answer:
DaniilM [7]3 years ago
8 0

Answer:

The firm paid $630000 dividends in 2019

Explanation:

Retained earnings is the amount of net income that is not distributed to stockholders and is ploughed back into the business. It is a capital reserve account and appears in the equity section of the Balance Sheet. To determine the amount of Dividends, we will trace the change in Retained earnings and deduct the increase in retained earnings amount from the Net Income to arrive at dividends for the year.

Increase in Retained earnings = 4000000 - 3700000  =  $300000

Thus, out of the Net Income of $930000 earned in 2019, $300000 was transferred to retained earnings. The remaining was paid as dividends.

The dividends in 2019 are = 930000 - 300000 = $630000

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I think the annuity will be worth about 41,146 in 18 years, I hope this helped :)
6 0
3 years ago
Bayard organized, and owns and operates, Cypress Tours in the simplest form of business organization. This is
ratelena [41]

Bayard organized, owns, and operates, Cypress Tours in the simplest form of business organization. This is called sole proprietorship.

<h3>What is a sole proprietorship in business?</h3>

A sole proprietorship is a type of business is can be managed and operated by an individual, or a business corporation. There exist no partners in the business corporation.

Therefore, we can conclude that Bayard who owns and operates Cypress TOurs in the simplest form of the business organization runs a sole proprietorship business and not a partnership, franchise, or corporation.

Learn more about sole proprietorship here:

brainly.com/question/19176489

7 0
2 years ago
During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2018, yo
siniylev [52]

Answer:

$76,440

Explanation:

Calculation to determine the proper amount of net income as of December 31, 2018

Net income $87,000

Less Adjusted for insurance ($4,050)

($16,200*3/12)

Less Adjusted for deferred income ($2,700)

Less Adjusted for supplies ($2,100)

Less Adjusted for interest ($1,710)

($57,000*9%*4/12)

Net income (Adjusted) $76,440

Therefore The the proper amount of net income as of December 31, 2018 will be $76,440

4 0
2 years ago
Which of the following is NOT a benefit of using a budget?
vagabundo [1.1K]
Help earning more money than you currently make. A budget does not do that for you, that is dependent upon your job.
6 0
3 years ago
Read 2 more answers
How do you get started investing in the stock market.
BARSIC [14]

Answer:

so, you need to start with as much as you can, throwing in some money every day. Make sure when the stock is down, you should buy. the lower it is the better for buying. leave your stock there, and don't touch the money unless it is an emergency. You can also invest in an index fund. this means you put your money in the index funds and professionals buy the stocks for you.

Explanation:

I hope this helped!

4 0
2 years ago
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