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Mila [183]
3 years ago
5

The following account balances were taken from the adjusted trial balance of Kendall Company: Revenues $ 22,400 Operating Expens

es 15,000 Dividends 4,500 Retained Earnings 17,000 What is the Retained Earnings account balance that will be included on the post-closing trial balance?
Business
1 answer:
dsp733 years ago
7 0

Answer:

Retained earnings-Closing = $19,900

Explanation:

Given that,

Revenues = $22,400

Operating Expenses = $15,000

Dividends = $4,500

Retained Earnings(opening) = $17,000

Net Income = Revenues - Operating expenses

                    = $ 22,400 - $15,000

                    = $7,400

Statement of Retained Earnings:

Retained earnings-Closing:

= Retained earnings -opening + Net Income - Dividends

=  $17,000 + $7,400 - $4,500

= $19,900

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A bond is a long-term financing method for capital projects.<br> A. True<br> B. False
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A. True.....................

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John's Locomotive Works manufactures a model locomotive. It comes in two versions: a standard (X1) and a deluxe (X2). The locomo
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X1                    X2              Z

0                      0                0

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3 0
3 years ago
Marie is putting together a retirement plan and is scheduled to retire in 40 years. She is planning to open a retirement account
kap26 [50]

Answer:

R=407.11$

Explanation:

Since the Marie wants to contribute equal amount per month in order to get the $3,000,000 after 40 years, therefore the future value of annuity formula shall be applied to the given question to solve the problem.

Future value of annuity=R[((1+i)^n-1)/i]

R=monthly investment to be made=?

n=number of payments involved=40*12=480

i= interest rate=10.5%/12=0.875%

Future value of annuity=$3,000,000

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6 0
4 years ago
Nguyen Inc. applies overhead to products based on direct labor hours using normal costing. During 2016, total overhead costs wer
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Answer:

overhead rate: 17.5

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The difference between applied an actual overhead is calculated as follows:

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underapplied means actual were higher than applied

while, overapplied means the actual cost were lower.

Based on this information we can set up the foermula as follows:

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now we solve for the rate:

rate = (20,000 + 540,000) / 32,000 = 17.5

3 0
3 years ago
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