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Sauron [17]
3 years ago
6

The beginning and ending balances of retained earnings for the year were $30,000 and $35,000 respectively. If dividend payments

during the year were $13,000. Determine the net income or net loss for the year.
a. $8,000 net loss
b. $14,000 net income
c. $5,000 net income
d. $11,000 net income
Business
1 answer:
Keith_Richards [23]3 years ago
7 0

Answer and Explanation:

The computation of the net income or loss for the year is shown below:

As we know that

Ending retained earnings balance = beginning retained earning balance + net income or net loss - dividend paid

$35,000 = $30,000 +  net income or net loss - $13,000

$35,000 = $17,000 + net income or net loss

So, the net income or net loss is $18,000

This is an answer but the same is not provided in the given options

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You find a certain stock that had returns of 16 percent, −9 percent, 23 percent, and 24 percent for four of the last five years.
Vilka [71]

Answer:

stock's returns = (0.16 - 0.09 + 0.23 + 0.24 + x) / 5 = 0.144

0.16 - 0.09 + 0.23 + 0.24 + x = 0.144 x 5

0.54 + x = 0.72

missing return (x) = 0.72 - 0.54 = 0.18 = 18%

variance = [(0.16 - 0.144)² + (-0.09 - 0.144)² + (0.23 - 0.144)² + (0.24 - 0.144)² + (0.18 - 0.144)²] / 5 = (0.000256 + 0.054636257 + 0.007396 + 0.009216 + 0.001296) / 5 = 0.014560051

standard deviation = √0.014560051 = 0.1207 = 12.07%

4 0
3 years ago
Kieu Corporation constructs a new warehouse. It pays $100,000 for materials and $70,000 to the general contractor. Architectural
garik1379 [7]

Answer:

$204,000

Explanation:

Initial cost basis is the amount of cost capitalized in the purchase of an asset for tax and other purposes.It consists of purchase price , development fees , professional fees  estate taxes and others.

Please note that finance cost is not included as it is recorded as expenses over the life of the loan.

Workings

Materials - $100,000

Contractor fees - $70,000

Architectural fees - $ 18,000

Cost of land  $ 15,000

Estate taxes - $1000

Total cost =$204,000

8 0
3 years ago
On June ​1, 2018​, High Performance Cell Phones sold $ 25 comma 000 of merchandise to Ackerman Trucking Company on account. Acke
Aleks04 [339]

Answer and Explanation:

The journal entries are shown below:

On June 1

Anthony Trucking Company   $25,000

  To  Merchandise   $25,000

(Being the sale of merchandise is recorded)

On July 15

Cash  Dr $6,000

   To Account Receivable   $6,000

(Being the cash received is recorded)

On September 5

Bad debt Expense  $18,000

      To Account Receivable Expense  $18,000

(Being the bad debt expense is recorded)

On March 5

Cash  $18,000

     To Account Receivable  $18,000

(Being the cash received is recorded)

Only these journal entries are required

3 0
3 years ago
The SEC's ____ reviews the registration statement filed when a firm goes public, corporate filings for annual and quarterly repo
Crazy boy [7]

Answer:

The correct answer is letter "A": Division of Corporate Finance.

Explanation:

The Division of Corporate Finance is a body of the U.S. Securities and Exchange Commission (SEC) in charge of monitoring if publicly traded companies disclose enough information for investors to make informed decisions. The Division of Corporate Finance is also responsible for reviewing new institutions filings to go public by checking their Financial Statements, Form 10-Ks -company's performance, Form 10-Qs -quarterly financial reports, and proxy materials for voting among others.

The division does not disclose the criteria of evaluation to ensure integrity in the process.

6 0
4 years ago
Omega has a real gdp per capita of $5,000. If it has a constant 6% rate of growth. how many years will it take before omega has
Alla [95]

Nominal GDP is described as GDP that has no longer been adjusted for actual GDP according to capita and is the key statistic used to tune economic increase.

GDP in line with capita is the sum of gross cost brought by using all resident manufacturers within the economy plus any product taxes (fewer subsidies) not blanketed within the valuation of output, divided by means of mid-12 months population. growth is calculated from steady price GDP facts in nearby currency.

As an end result, higher GDP according to capita is frequently associated with superb effects in a wide range of areas along with better fitness, more training, or even more life satisfaction.

GDP per capita is primarily based on purchasing energy parity (PPP). PPP GDP is gross domestic product converted to worldwide dollars using shopping strength parity charges. An international dollar has equal buying power over GDP as the U.S. dollar has in the united states.

Learn more about GDP here: brainly.com/question/1383956

#SPJ4

3 0
2 years ago
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