Answer:
Statement of retained earnings
For the year ended 2017
Retained earnings, January 1, 2017 $0
Add: Net Income $54,000
Less: Dividends $<u>22,000</u>
Retained earnings, December 31, 2017 <u>$32,000</u>
Statement of retained earnings
For the year ended 2018
Retained earnings, January 1, 2018 $0
Add: Net Income $59,000
Less: Dividends <u>$34,000</u>
Retained earnings, December 31, 2018 <u>$25,000</u>
Answer:
Consumption expenditure on durable goods
Explanation:
Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,
i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc
ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc
iii) Expenditure on services such as banking, insurance, traveling, etc
Thus, purchase of a new car is included in consumption expenditure on durable goods.
Answer:
Production= 60,740
Explanation:
Giving the following information:
Sales= 59,700
Beginning inventory= 6,410
Desired Ending inventory= 7,450
<u>To calculate the production for the year, we need to use the following formula:</u>
Production= sales + desired ending inventory - beginning inventory
Production= 59,700 + 7,450 - 6,410
Production= 60,740
Answer: $196,800
Explanation:
The cash payments to suppliers for inventory purchases will be:
= Cost of goods sold - Decrease in inventory - Increase in accounts payable
Decrease in inventory = 23,500 - 17,800
= $5,700
Increase in accounts payable
= 13,500 - 6,000
= $7,500
Cash to suppliers for inventory = 210,000 - 5,700 - 7,500
= $196,800
Answer:
D. You shop around and buy a pair of the exact same designer jeans at a thrift shop, and they cost virtually nothing.
Explanation:
Good money burn refers to the effective use of money, rather than just spending it on some useless stuff.
Here in the given instance the following is the explanation for the given instance:
Option A states that the jeans is just bought for completing the desire, it does not have any difference in the product even if the product can be bought on sale after some days.
Option B is still better than the first day.
Further in option c buying the jeans without any label might not be a good decision as it might have poor quality.
Option D is the best as it is the same jeans but at the least possible cost.
