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zhuklara [117]
4 years ago
5

May Bakery, Inc. reported a prior-period adjustment in 2016.An accounting error caused net income of prior years to be overstate

d by $6,000.Retained Earnings at December 31, 2015, as previously reported, was $39,000.Net income for 2016 was $72,000, and dividends declared were $23,000.Prepare the company's statement of retained earnings for the year ended December 31, 2016.
Business
1 answer:
hoa [83]4 years ago
6 0

Answer:

Particulars                                                  Amount

Retained earnings January 1,2016            $39,000

as originally posted

Prior period adjustment                             <u>$6,000</u>

Retained earnings as adjusted                  $33,000

Net Income for the year                             <u>$72,000</u>

                                                                    $105,000

Dividends declared                                    <u>$23,000</u>

Retained earnings December 31, 2016  <u>$82,000</u>

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This is where labor and other factors of production are sold in the circular flow model of income in economic theory *it’s for e
erik [133]

Answer:

Resource Market

Explanation:

A resource market is a market from where businesses purchase inputs that can be used for production.

Resource Market is a market where labor and other factors of production are sold in the circular flow model of income in economic theory.

In Resource Market, households are the sellers and firms are the buyers.

8 0
3 years ago
If a policyowner unintentionally pays premiums in excess of the MEC guidelines, the excess premium can be refunded by the insure
dangina [55]

Answer:

End of the contract year.

Explanation:

Calendar year deductibles (and refunds) operate on a regular calendar year basis, starting on January 1st and ending on December 31st. Generally refunds should be made during January and February of the next year.

If the policy works on a plan year basis, both the deductibles and the refunds will be based on the renewal date of the policy, and not the calendar year basis.

5 0
4 years ago
You have been hired as a consultant by Feludi Inc.'s CFO, who wants you to help her estimate the cost of capital. You have been
damaskus [11]

Answer:

Based on the CAPM approach, the cost of common from reinvested earnings is e. 10.93%

Explanation:

Hi, first, let´s introduce the formula for the CAPM approach.

Cost(e)=rf+beta*RPM

Therefore:

Cost(e)=0.041+1.30*0.0525=0.1093

So, the cost od common from reinvested earnings is 10.93%, which would be option "e".

Best of luck.

7 0
3 years ago
Which theory would most likely explain why a commercial bank, which usually focuses on short-term securities, would switch to lo
den301095 [7]

Answer:

preferred habitat

Explanation:

According to the preferred habitat theory, if the expected returns from investment of a particular investment maturity is large enough, investors would shift from their preferred maturities.

In this question, there is a shift from the preferred maturity (short-term securities) to a long-term securities when interest rate changes

The pure expectations theory assumes that bonds of any maturity are perfect substitutes for each other. For example, if an investor buys a 10 year bond and holds it for 1 year, the return is the same as buying a 1 year bond. The theory also assumes that risk premium does not exist and a security only earns its risk free rate

Liquidity premium theory states that risk premium increases with the maturity of a bond. The theory predicts that the yield curve is upward sloping due to liquidity premium

According to the segmented market theory, each bond maturity segment can be thought of as a segment market in which yield are a function of the demand and supply for funds in that maturity.

5 0
3 years ago
Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $22,000 and variable exp
Dmitrij [34]

Answer:

BEP $88,403.85

Explanation:

R10L22,000 - 10,060 = 11,940

X96N 35,000 - 17,000 = 17,700

57,000              29,640

Contribution Mix  total contribution / total sales

29,640/57,000 = 0.52

\frac{Fixed\:Cost}{Contribution \:Margin \:Ratio} = Break\: Even\: Point_{dollars}

45,970/0.52 = $88,403.84

8 0
3 years ago
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