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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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Concise writing will save your reader time and make your message easier to understand. During phase three of the 3-x-3 writing p
almond37 [142]

Answer:

1) A) Adequate enough

2) C) That was unfinished

3) A) Purge empty words

C) Reject redundancies

Explanation:

Redundancies means words that are not necessary for the sentence. These words have repetitive meanings are not required in the sentence. Here adequate and enough both have similar meanings. Empty words are one which do not add extra meaning to the sentence. The word unfinished does not add any meaning to the sentence as it is already mentioned that there is incomplete data. By removal of empty words and redundancies the passage will be more precise and concise.

6 0
3 years ago
Over the past year, Eli has been working very hard. His employer has taken notice and is giving Eli a 6% raise in salary. During
vfiekz [6]

Answer:

b) increased by 2%.

Explanation:

If Eli has been granted a 6% raise in salary.

In addition, during the year, overall prices in the economy have increased by 4%. Given this information, Eli's real wage has increased by 2%.

The nominal rate of increase is 6% but the real rate of increase is gotten by the nominal rate minus the inflation rate

Therefore Real rate of wage increase for Eli = 6% - 4% = 2%

4 0
3 years ago
By promising to change engine oil and filters quickly, jiffy lube is appealing to which buyer requirement?
Effectus [21]

Answer: service

Explanation:

they are providing a service to the buyer and assuring them that they will perform that service fast

3 0
3 years ago
What are the definition and purpose of a business?
sergiy2304 [10]

Answer:

The answer is explained below

Explanation:

A business provides goods or services in exchange for money. A business is a commercial activity which involves the production of goods and services for others so as to make profit. For a business to make profit, they need to satisfy the need of their customer.  The goal of a business, if it wants to survive over time is to make profit by providing the necessities of its customers. Business creates job for the citizens and earn revenue for the country

4 0
3 years ago
Brady's listing of deferred tax assets and liabilities includes the following for operations in the tax jurisdictions of Tambura
Sphinxa [80]

Answer: Deferred tax liability of $25 million in Tambura and Deferred tax asset of $43 million in Nileboo.

Explanation:

Tambura

Deferred tax asset                                         $ 19 million

Less: Valuation allowance                      <u>     (  $ 16 million)</u>

Net deferred tax asset                                  $ 3 million

Less Deferred tax liability                         <u>    ($ 28 million)</u>

Deferred tax liability                                      $25 million

Nileboo

Deferred tax asset                                         $ 60 million

Less: Deferred tax liability                       <u>     (  $ 17 million)</u>

Deferred tax asset                                         $43 million

3 0
3 years ago
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