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Mashcka [7]
3 years ago
5

Net income is $1,000,000 for the year, EBT is $2,500,000, retained earnings in January were $5,000,000, common stock dividends p

aid for the year are $300,000, and common shares outstanding are 1,000,000. What are end-of-year retained earnings? Group of answer choices
Business
1 answer:
Scilla [17]3 years ago
7 0

Answer:

$5,700,000

Explanation:

The net income for the year is $1,000,000

The EBT is $2,500,000

The retained earnings in January were $5,000,000

The amount of common stock dividend that was paid for the year is $300,000

The common shares that are outstanding is 1,000,000

Therefore, the end-of-year retained earnings can be calculated as follows

= Net income+Retained earning-stock paid

= $1,000,000+$5,000,000-$300,000

= $6,000,000-$300,000

= $5,700,000

Hence the end-of-year retained earnings is $5,700,000

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Answer:

50%

Explanation:

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6 0
3 years ago
How can firms avoid incurring high transport costs when exporting bulk products?
Sunny_sXe [5.5K]

Firms can avoid incurring high transport costs when exporting bulk products by manufacturing bulk products regionally.

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7 0
2 years ago
A firm offers terms of 1.8/10, net 30. a. What effective annual interest rate does the firm earn when a customer does not take t
LUCKY_DIMON [66]

Answer:

a) 39.304%

b) 67.91%

c) 14.17%

Explanation:

a. Given"

Offer terms = 1.8/10

Now,

The Effective annual interest rate is given as:

= (\frac{\textup{100}}{\textup{100 - Discount rate}})^{(\frac{365}{total period - discount period})}-1

on substituting the respective values, we get

= (\frac{\textup{100}}{\textup{100 - 1.8}})^{\frac{365}{(30 - 10)}}-1

= 0.39304

or

= 39.304%

similarly,

b. for 2.8/10 net 30

Effective annual interest rate = (\frac{\textup{100}}{\textup{100 - 2.8}})^{(\frac{365}{(30 - 10)})}-1

= 0.6791

or

= 67.91%

c. for 1.8/10 net 60

Effective annual interest rate = (\frac{\textup{100}}{\textup{100 - 1.8}})^{(\frac{365}{(60 - 10)})}-1

= 0.1417

or

= 14.17%

8 0
3 years ago
True or false The fair Labor standards Act ( FLSA) requires that all employees receive time- and -half for work in excess of 40
Gnoma [55]

Answer:

Yes, all. A non-exempt employee is eligible for overtime/compensatory time for hours in excess of 40 in a given week.

6 0
2 years ago
Specialization is important in an economy because it leads to which important economic concept?
rewona [7]

It leads to voluntary exchange.

7 0
3 years ago
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