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9966 [12]
4 years ago
12

LePage's has an ending Retained Earnings balance of $51,100. If during the year LePage's paid dividends of $4,300 and had net in

come of $22,500, then what was the beginning Retained Earnings balance?A. $24,300B. $32,900C. $300D. $69,300
Business
1 answer:
oee [108]4 years ago
5 0

Answer: Option (B) is correct.

Explanation:

Given that,

Ending Retained Earnings balance(current) = $51,100

Dividends = $4,300

Net income = $22,500

Current retained earnings = Beginning Retained Earnings + Net income - Dividends

Beginning Retained Earnings = Current retained earnings - Net income + Dividends

                                                  = $51,100 - $22,500 + $4,300

                                                  = $32,900

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A property is being appraised using the gross rent multiplier. A comparable property that rents for $150 per month recently sold
Helga [31]

Answer:

The sales price of the appraised property is $26,400

Explanation:

The sales price of of the appraised property can be expressed as;

SA=(A/C)×SC

where;

SA=selling price of the appraised property

A=appraised rent per month

C=comparable rent per month

SC=selling price of the comparable property

In our case;

SA=unknown

A=$165 per month

C=$150 per month

SC=$24,000

replacing;

SA=(165/150)×24,000=$26,400

The sales price of the appraised property is $26,400

3 0
3 years ago
Allo Foundation, a tax-exempt organization, invested $200,000 in cost-saving equipment. The equipment has a five-year useful lif
murzikaleks [220]

Answer:

$34,310.45

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.  

When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.

Cash flow in year 0 =  $-200,000

Cash flow in year 1 - 5 = 65,000

I = 12%

NPV = $34,310.45

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

6 0
3 years ago
_______ property is an ownership fence, which applies to resources like land that more than one individual owns jointly.
OverLord2011 [107]

Answer:

Common

Explanation:

6 0
3 years ago
On June 1, Year 1 Oxian Corp. receives $24,000 from a customer for work to be performed evenly over the next 2 years. What is th
pav-90 [236]

Answer:

$7,000 is the amount of revenue in year 1

Explanation:

The amount received from the customer is $24,000,which is payment for work to be performed over 24-month period i.e 2 years

In year 1,the work would be performed from June -December,hence  7-month worth of revenue should be recognized in year 1 as follows

revenue recognition in year=$24,000*7/24=$7,000

The amount of revenue attributable to year 1 on the income statement is $7,000

7 0
3 years ago
Gardening supplies are hot now but they haven’t always been why is this true of other businesses too
marusya05 [52]

Answer:

look i don't care...

Explanation:

just joking i don't know that question

3 0
3 years ago
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