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4 years ago

Superior has provided the following information for its recent year of operation:

Business

1 answer:

n200080 [17]4 years ago

3 0

Answer:

Superior's dividend declarations during its recent year of operation is $22,000

Explanation:

Superior's dividend declarations would be the difference between what the Business generated in Net Income and what was transferred to Retained earnings for the year.

Statement of Retained Earnings.

Opening Retained Earnings = $75,000

Closing Retained Earnings = $92,000

Addition to Retained Earnings = $17,000

This implies:

a. of the Net Income for the year = $39,000

b. Transferred to Retained Earnings = $17,000

Dividend Paid therefore is = $22,000 (a minus b)

And the Shareholders Equity Position would be:

Opening common stock Account = $13,000

Additional Paid in Capital = $3,500 (Closing Balance less Opening)

Premium on Paid up Capital = $300 ($3,800 less $3,500 = $300)

Retained earnings = $92,000

Total Shareholders Equity = $108,800

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On January 1, a machine with a useful life of 5 years and a salvage value of $15000 was purchased for $115000. What is the depre

grandymaker [24]

Answer:

Annual depreciation (year 2)= $20,000

Explanation:

Giving the following information:

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3 years ago

Who is the founder of toyota

alexira [117]

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3 years ago

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egoroff_w [7]

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1 year ago

Marlin Steel Wire Products is a manufacturer of commodity wire products out of Baltimore, MD. Marlin has many rivals based in Ch

Ostrovityanka [42]

Answer:

Focus Strategy

Explanation:

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Usually a focus strategy is used where the company knows its section and has products to meet its needs competitively.

Focus strategy is one of three strategies for generic marketing.

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4 years ago

On October 1, year 1, Kirby Corp. purchased equipment for $100,000. The equipment has a useful life of 5 years with no residual

NNADVOKAT [17]

Answer:

5000 partial depreciation

Explanation:

straight line formula is = cost - scrape value

useful life in years

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3 years ago