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uranmaximum [27]
3 years ago
8

Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat

ed for future business expansion. This will cause total retained earnings to
A. increase by $15,000.
B. increase or decrease $5,000, as determined by the board.
C. decrease by $15,000.
D. remain at $30,000.
Business
1 answer:
gtnhenbr [62]3 years ago
6 0

<u>Answer</u> is D. remain at $30,000.

<u>Explanation:</u>

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings,  the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

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Bank reconciliation statement
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3 years ago
A new accountant at Larkspur, Inc. is trying to identify which of the amounts shown below should be reported as the current asse
muminat

Answer:

Cash and cash equivalents = $20,217

Explanation:

                          Larkspur Company

                    Cash and Cash Equivalent

Transaction No.      Particulars                           $          

1.                        Petty Cash Fund                          52

2.                       Treasury Bill                          10,200

3.                       Deposit-In-Transit                      255

                         Cash-in-Bank:

5.                       Checking account                   3,360

6.                       Savings account                      6,350

Total Cash & Cash Equivalent                        20,217

Transaction #4. Since it did not post during April, therefore, it could not be a cash item.

Transaction #7. It is an expense.

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5 0
3 years ago
If a brand or company is trying to repair a damaged reputation with the people it serves, its strategic efforts in digital marke
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Answer:

C. Favorability.

Explanation:

Digital marketing can be defined as an application of a wide range of channels or medium such as mobile devices, internet, social media, software applications, search engines, and a variety of electronic channels to reach out to consumers and potential buyers.

If a brand or company is trying to repair a damaged reputation with the people it serves, its strategic efforts in digital marketing would align with favorability.

Favorability in digital marketing tends to measure the relationship between a business and its customers. The main purpose is to create affinity for a business or making customers feel positive towards a business after viewing an advert.

4 0
3 years ago
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Answer:

$30,604

Explanation:

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2019 interest expense is

= Equipment amount × rate of interest

= $311,967 × 9%

= $28,077

The Dec 31 2019 liability of book value is

= $311,967 + $28,077

= $340,044

Now the interest expense for the year 2020 is

= $340,044 × 0.09

= $30,604

3 0
3 years ago
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The use of electronic mail proved to be significant in establishing communication between the firm and the consumer. Users of their product would now tell their claims and reports about its deficiencies only without going to the shop itself to solution the problems as fast as possible.
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