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lesantik [10]
3 years ago
13

As of December 31, 2018, Moss Company had total cash of $160,000, notes payable of $86,000, and common stock of $52,800. During

2019, Moss earned $40,000 of cash revenue, paid $22,000 for cash expenses, and paid a $3,400 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b
Business
1 answer:
tatyana61 [14]3 years ago
6 0

Given:

Total cash = $160,000

Notes payable = $86,000

Common stock = $52,800

Find:

Retained earnings as on December 31, 2018

Computation for retained earning:

According to Accounting Equation:

Assets = Liabilities + Stock holder equity

Total Cash = Notes payable + Common stock + Retained earning

$160,000 = $86,000 + $52,800 + Retained earning

$160,000 = $138,800 + Retained earning

Retained earning = $160,000 - $138,800

Retained earning = $21,200

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When a company produces​ 5,000 units, total costs equal​ $150,000 and total variable costs equal​ $75,000. At this level of​ out
Marrrta [24]

Answer:

$15

Explanation:

Average fixed cost = Total fixed cost / quantity

Total fixed cost = Total cost - Total variable cost

= $150,000 - $75,000 = $75,000

Average fixed cost = $75,000 /5000 = $15

I hope my answer helps you

7 0
3 years ago
At a large department store, the number of years of employment for a cashier is a normally distributed variable with a mean of 5
Yakvenalex [24]

Answer:

0.0084

Explanation:

For this probability problem, we will have to make use of the normal probability distribution table.

to use the table, we will have to compute a certain value

z = (x- mean) /Standard deviation

z = \frac{(10 - 5.7)}{1.8} = 2.39

Probability he has worked in the store for over 10 years can be obtained by taking the z value of 2.39 to the normal probability distribution table to read off the values.

<em>To do this, on the  "z" column, we scan down the value 2.3. we then trace that row until we reach the value under the ".09" column. </em>

This gives us 0.99916

Thus we have P (Z < 2.39) = 0.9916

We subtract the value obtained from the table from 1 to get the probability required.

1 - 0.9916 = 0.0084

The Probability that the employee has worked at the store for over 10 years = 0.0084

4 0
4 years ago
Why might complaints of age discrimination grow when the economy is slow? companies work very hard to retain their best talent i
siniylev [52]

Companies may try to lower their labor costs by laying off higher paid workers.

Typically the higher paid workers will be professionals who have worked their way up over time and tend to be older, while younger workers fresh out of school and looking for their first jobs will be more willing to take lower salaries.

5 0
3 years ago
The changes in account balances for Elder Company for 2018 are as follows: Assets $ 680,000 debit Common stock 350,000 credit Li
hammer [34]

Answer:

Net income will be $160000

So option (c) will be the correct answer

Explanation:

We have given debt common stock = $680000

Credit liabilities = 350000

Credit paid in capital = 190000

And excess of par 30,000 credit Assuming the only changes in retained earnings

So 680000 = 350000+190000+30000+ retained earning

So retained earning = $110000

Dividend paid = $50000

So net income = dividend paid + retained earning = $110000+$50000 = $160000

So option (c) will be the correct answer

4 0
3 years ago
You are part of an Information Systems project team. Your job is to ensure that the technology and vendor suggested for use in t
LenaWriter [7]

.answer:

the correct answer is (c)

explanation:

information systems manager (IS Manager) represent data innovation in an association, regulating a group of IT experts. The job incorporates data frameworks arranging, establishment, and support, including equipment and programming overhauls. IS directors may concentrate on a particular issue, for example, arrange security or Internet administrations, or they may organise all innovation tasks

8 0
3 years ago
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