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jeka57 [31]
3 years ago
13

retained earnings of $105000. During 2022, the company issued $79500 of common stock for cash. The company recorded revenues of

$748000, expenses of $637000, and paid dividends of $36000. What was Skysong's net income for the year 2022?
Business
1 answer:
mr_godi [17]3 years ago
7 0

Answer:

$111,000

Explanation:

net income for Skysong during 2022:

total revenues       $748,000

<u>- total expenses   ($637,000)</u>

net income              $111,000

Net income is not affected by new common stocks being issued, since no interests is paid.

It affects dividends because without net income dividends cannot be distributed, but dividends do not affect net income,

Retained earnings are increased by net income after taxes (= $111,000 x 79% = $87,690) - distributed dividends $36,000 = $51,690

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Some of the advantages of a functional project where the project is housed in a functional division include which of the followi
Ganezh [65]

Answer:

The correct answer is b. A team member can work on several projects.

Explanation:

Generally, there is a group of personnel who carry out repetitive tasks and can take over their functions without jeopardizing an improvement that is attempted. For this reason, the person in charge of the project can carry out several implementations without jeopardizing the normal development of the tasks, which allows covering broadly several areas and introducing best practices almost at the same time.

5 0
3 years ago
Lopez Corporation incurred the following costs while manufacturing its product Materials used in product Depreciation on plant P
kirill [66]

Answer:

The missing data of this question is reproduced as follows;

Materials Used           128,900

Depreciation on plant 63,400

Property taxes on store  8,280

Labor cost of assembly workers 114,800

Factory supplies used           32,100

Advertising expense          55,800

Property taxes on plant          23,100

Delivery expense                 24,800

Sales commission                    43,600

Salaries paid to sales clerk;     60,400

Explanation:

Cost of Goods Manufactured  

Materials Used           128,900

Depreciation on plant 63,400

Property taxes on plant   23,100

Labor cost of assembly workers 114,800

Factory supplies used           32,100

WIP Beginning                        14,200

Less;WIP closing                     (16,900)

Cost of Goods Manufactured 359,600

Cost of Goods Sold

Opening Finished Goods   63,300

Cost of goods manufactured  359,600

Less; Closing Fininsed goods  (48,200)

Cost of Goods Sold                 374,700

5 0
3 years ago
As a manager seeks to develop her leadership skills, she should be aware that:
avanturin [10]

Answer:

b. Many different styles of leadership can be effective.

Explanation:

Leadership is the ability of a person to motivate others to deliver on set goals and objectives.

Depending.on the organisation, the goals to be achieved, needs of the followers, and the personality of the leader.

There are different leadership styles that are all effective depending on the situation

Authoritative leaders states the way things should be done with little input from the team.

Democratic leadership is when the leader gets feedback from the team and uses it to make decisions.

Free rein is when the leader allows the team do what they like in achieving goals.

Task oriented leadership focuses mainly on the task at hand.

7 0
3 years ago
Which activity relates to judging the seriousness or gravity of a given problem?
yKpoI14uk [10]

B. Evaluation  

Evaluating means to systematically determine somethings merits and significance, including the seriousness or gravity of a problem.

3 0
3 years ago
Read 2 more answers
The Better Building Company has a contract to build a building for $100 million. The estimate of the cost of the project is $75
Leni [432]

Answer:

$10 million

Explanation:

Calculation for the reported profit for the first year of the contract

Using this formula

Reported profit=(BB Costs/Project cost estimate)×(Building contract-Project cost estimate)

Let plug in the formula

Reported profit = ($30 million / $75 million)×($100 million – $75 million)

Reported profit=0.4 million ×25 million

Reported profit= $10 million

Therefore the reported profit for the first year of the contract will be $10 million

5 0
3 years ago
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