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Naily [24]
3 years ago
15

Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. During 2019, the company had revenues of $410,000 and ba

lance sheet as of December 31, 2019 will be: expenses of $355,000, and the company declared and paid dividends of $12,000. Retained earnings on the Multiple Choice a. $265,000 b. $43,000 c. $308,000
Business
1 answer:
NISA [10]3 years ago
4 0

Answer:

Retained earnings on the December 31, 2019: $253,000

Explanation:

Ending balance in retained earnings is calculated by using following formula:

Ending balance in retained earnings = Beginning balance in retained earnings + Net income - Cash dividends - Stock dividends

Grizzly Company had Retained Earnings at December 31, 2018 of $210,000.  Beginning balance in retained earnings at January 01, 2019 is $210,000

Net income = Revenues - Expenses = $410,000 - $355,000 = $55,000

Ending balance in retained earnings = $210,000 + $55,000 - $12,000 = $253,000

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Crimson Corp. has a component that is a discontinued operation. The component incurred a loss from operations of $40,000. The co
zavuch27 [327]

Answer:

$60,000 income tax benefit

Explanation:

Since Crimson Corp. had a loss from operations and sold the asset for a loss we know that they lost money with the asset and an income tax benefit was generated. To calculate the income tax benefit we need to add both losses: $40,000 (operation) + $160,000 (sale) = $200,000 in total losses.

$200,000 x 30% = $60,000 income tax benefit

6 0
3 years ago
An auto manufacturer is considering adding new automation to their assembly line to reduce production costs. The manufacturer is
QveST [7]

Answer:

Check the explanation

Explanation:

As per the beta distribution, the average revenue per year = (Pessimistic +4*Most Likely +Optimistic) / 6

Avg revenue per year = (460000 + 4*660000 + 840000) / 6 = 656666.67

MARR = 12%, life = 9 yrs

NPW = -4000000 + 656666.67 * (P/A,12%,9) + 40000 * (P/F,12%,9)

= -4000000 + 656666.67 * 5.32824 + 40000 * 0.36061

= 7498877.6+14424.4

= -433415.60

= -433000 (nearest 1000)

7 0
3 years ago
Read 2 more answers
The Heating Division of Kobe International produces a heating element that it sells to its customers for $48 per unit. Its varia
AnnZ [28]

Answer:

$48

Explanation:

Calculation to determine the minimum transfer price that the Heating Division should accept

Using this formula

Min. transfer price=[VC/unit + (Lost USP - VC/unit)

Let plug in the formula

Min. transfer price=$22 + ($48 - $22)

Min. transfer price=$22+$26

Min. transfer price= $48

Therefore the minimum transfer price that the Heating Division should accept is $48

8 0
2 years ago
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses a
mezya [45]

Answer:

Allocated salary to Grinding = $18,000

Explanation:

<em>The Salary would be allocated between the department using the number f employees as the basis of allocation. This is so because number of employees would be a reasonable factory that influences the amount incurred as salary expense.</em>

This is done as follows:

Allocated Salary expense =

Number of employee in a department/Total employee× Salary

Allocated salary to Grinding Department

= 1500/2500× $30,000=$18,000

Allocated salary to Grinding = $18,000

4 0
2 years ago
With which of the following scenarios should a perfectly competitive firm shut down in the short run?
Fofino [41]

Answer:

both I and II

I. P = $80, VC = $180,000, and Q = 2,000

III. P = $11.55, ATC = $15, and AFC = $2

Explanation:

In a perfectly competitive market, businesses will shut down in the short run if the unit price of their products is smaller than the variable cost of producing that product.

I: price is $80 which is less than the variable unit cost $90

II: price $535 which is larger than the variable unit cost $500

III: price $11.55 which is less than the variable unit cost $13 (= $15 - $2)

3 0
2 years ago
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