Answer:
I think so buh I’d advice u to make it its correct
I believe it is to make sure employees can pay their taxes.
Hope it helps!
Answer:
Gain reported in 2019 is $200,000
Explanation:
The amount gained on Diamond's shares in 2017= (60-50)* 10,000= $100,000
Amount gained on Diamond's shares in 2018= (65-60)* 10,000= $50,000
Amount gained in 2019= (70-65)* 10,000= $50,000
So total gain reported in 2019= 100,000+ 50,000+ 50,000= $200,000
Answer:
The amount of the cash flow to creditors is $74
Explanation:
Beginning of the year:
Long-term debt = $308
Total debt = $339
At the end of the year:
Long-term debt = $269
Total debt = $349.
Interest = $35
Net new borrowing = Ending Long-term debt - Beginning Long-term debt
= $269 - $308
= ($39)
Cash flow to creditors = Interest paid - Net new borrowing
= $35 - ($39) = $ 74
Answer:
Retained Earnings increased $28,650 in 2016.
Explanation:
The total increase in Retained Earnings account = Net income = $80,000;
The total decrease in Retained Earnings account = Dividend paid to common shares + Dividend paid to preferred shares = Dividend per common share x Number of common share outstanding + % dividend on preferred stock x par value of preferred stock x number of preferred stock outstanding = 0.75 x 65,000 + 2% x (130,000 / 13,000) x 13,000 = $51,350;
So, Net effect on Retained Earnings Account = $80,000 - $51,350 = $28,650 ( increase).