1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jeka94
3 years ago
7

Wave Corporation began the current year with a retained earnings balance of $25,000. During the year, the company corrected an e

rror made in the prior year, which was a failure to record depreciation expense of $5,000 on equipment. Also, during the current year the company earned net income of $15,000 and declared cash dividends of $5,000. Compute the year-end retained earnings balance.
a. $40,000
b. $35,000
c. $25,000
d. $30,000
Business
1 answer:
snow_lady [41]3 years ago
5 0

Answer:

=$ 30,000.00

Explanation:

Retained earning represents profits that have not been distributed to shareholders.

Opening balance    $ 25,000.00

Less previous depreciation           $<u>   5,000.00</u>

Actual balance             $ 20,000.00

for the current  year: Net income $ 15,000.00

less depreciation      <u>$  5,000.00</u>

                                                         $ 10,000.00

Balance at the end of year = $ 20,000.00 +$10,000.00

     =$ 30,000.00

You might be interested in
Activity-based costing systems:
Harlamova29_29 [7]

Answer:

The correct answer is letter "B": Often reveal products that were under- or over-costed by traditional costing systems.

Explanation:

Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect costs to the products incurring the bulk of those costs. ABC is primarily used in the manufacturing sector to make a better calculation of the true cost of production per unit. Compared to the traditional costing method, ABC spots products that could be under-costed or over-costed.

3 0
3 years ago
Explain instances which render leadership unnecessary
Scilla [17]

Leadership is not needed when:

  • It will make processes inefficient due to time wasting
  • It is being used to oppress people
  • Subordinates don't need leadership

Leadership is usually quite good as it can galvanize subordinates to be better workers due to better organization as well as inspiration.

There are instances where it is not needed however such as when:

  • It slows down processes - sometimes leaders will need to give permission for a subordinate to do something. If this thing is time conscious and the leader is not available to give their ascent, the whole process could suffer.

  • It oppresses people - when a leader is an oppressive one and acts in such a way that their subordinates suffer, that leadership is not needed.

  • Subordinates are fine without it - sometimes workers have the necessary skills and experience to operate independently without a leader. In such a case, a leader is not needed.

In conclusion, while a leader is quite important in many ways, there can be situations where it is best that they are not used.

<em>Find out more at brainly.com/question/24150490.</em>

3 0
2 years ago
"liabilities are obligations denominated in precise monetary terms." do you agree or disagree? Explain.
Korolek [52]

Disagree. Liabilities can be met in ways other than money.

In accounting, a liability is a debt that is owed and must be payed with money, but there are also legal liabilities and other obligations that are not monetary.

4 0
3 years ago
Read 2 more answers
KL Airlines paid an annual dividend of $1.18 a share last month. The company is planning on paying $1.50, $1.75, and $1.80 a sha
True [87]

Answer:

the correct answer is $14.71

good luck

7 0
3 years ago
Your roommate is studying to be a drummer in a rock band. She practices in your apartment every evening for three hours and the
Ludmilka [50]

Answer:

The correct answer is C. An internal cost

Explanation:

An internal cost is cost the internal struggle that is going on within oneself. Unlike external cost, it is not paid through material things, rather it is paid by internal mental strategies.

This is an example of an internal struggle because the roommate cannot be categorized into a third party, and it is your internal struggle that you cannot focus while there is noise. For some people, noise helps to concentrate.

Therefore, it would be considered as the internal cost that you pay due to your roommate.

5 0
3 years ago
Other questions:
  • Firm BUS106 now has 100,000 shares of common stock outstanding, and the total market value of equity equals $5,000,000. It also
    14·2 answers
  • Lens Care Inc. (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for
    7·1 answer
  • ​Currency markets operate under a system of _____ in which the prices of different currencies move up or down based on the deman
    6·1 answer
  • Perine, Inc., has balance sheet equity of $5.4 million. At the same time, the income statement shows net income of $783,000. The
    14·1 answer
  • Top Ramen is a brand of noodles that is widely considered to be an inferior good with a high salt content. What would happen to
    6·1 answer
  • The person may not have made a wise choice initially; the chosen career may no longer exist; values and interests may have chang
    11·2 answers
  • When the price of ketchup rises by 15 percent, the demand for hot dogs falls by 1 percent. a. Calculate the cross-price elastici
    7·1 answer
  • Splish Brothers Inc. reported a net loss of $14400 for the year ended December 31, 2022. During the year, accounts receivable de
    12·1 answer
  • First, look up a treaty via the Internet or a book, cite your source, and answer the following questions in a report of at least
    9·1 answer
  • What industry cannot rely on estimation
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!