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
"In the context of goal-setting theory, _____ is information about the quality or quantity of past performance and indicates whe
Bad White [126]

Answer: performance feedback

Explanation: Feedback on performance is a process of communication. It should be continuous as improvements are made on the basis of information exchanged between the manager and the subordinates. Regular follow-up dialogue should be in place to determine success.

Feedback is structured to see where things go right and where they go wrong. This suggests that leaders may need to be vigilant while they develop new behaviors and conquer the learning curves of new skills.

6 0
3 years ago
Up in Smoke Tobacco Shops' bond carries a 9 percent coupon, pays interest semiannually, and has 10 years to maturity. What is th
lara [203]

Answer:

10%

Explanation:

Since the bond is selling at a discount, it means that the coupon rate is blow the market rate, so the actual rate must be higher. Since there is only one option with an interest rate above 9%, we must check to see if it works.

10% yearly interest rate = 5% semiannual interest rate

we must determine the PV of the 20 coupons paid and the face value at maturity.

to calculate the PV of the 20 coupons ($45 each) we can use an excel spreadsheet and the NPV function with a 5% discount rate: PV of the coupons = $560.80

the PV of the face value in 10 years = $1,000 / 1.05²⁰ = $376.89

the present value of the coupons and the bond at maturity = $560.80 + $376.89 = $937.69. The PV using a 5% semiannual rate is very similar to $937.75, and since the question asked us to round up to the nearest whole percent, we can assume it is correct.

6 0
3 years ago
You possess a SECRET personnel security clearance and have been assigned to work on Project X. Carlos is your superior and has a
Mice21 [21]

Answer:

No. The classified document should not be shared with Carlos

Explanation:

Based on the information given the classified document should not be shared with Carlos because Carlos is not part of the Project X team and he does not have a "need-to-know" secondlly no one else is supposed to be given automatic access to the Secret document in my possession related to Project X or the classified information solely because the person is my superior or because of the person rank, position or security clearance.

6 0
3 years ago
A company's relevant range of production is 10,000 to 15,000 units. When it produces and sells 12,000 units, its unit costs are
DENIUS [597]

Answer:

Total indirect manufacturing cost= $75,450

Explanation:

Giving the following information:

12,000 units:

Variable manufacturing overhead $ 1.50

Fixed manufacturing overhead $ 5.00

<u>First, we need to calculate the total fixed manufacturing overhead:</u>

Total fixed overhead= 5*12,000= $60,000

<u>Now, for 10,300 units:</u>

Total indirect manufacturing cost= 60,000 + 10,300*1.5

Total indirect manufacturing cost= $75,450

7 0
3 years ago
Suppose you inherit an apartment building from your uncle. You anticipate making some income from the rent on
alexira [117]

Answer:

Would you cut back on making repairs and keeping the building in a safe and

livable condition?

No, I would maintain the building as good as posible.

How might you keep the building in good shape and still turn a profit?

the value of the building will increase over time. Then, is a matter of patience to make a profit out of the sell of it.

Is it possible to manage  the building or change it to make it both livable and profitable?

yes, What usually happens with rent control properties is that the landlords use the building for commercial or create condos use to avoid the law.

5 0
3 years ago
Other questions:
  • When price and quantity sold by a firm or multiply the result is called?
    8·1 answer
  • Which of the following statements is NOT one of the differentiation strategy​ decisions? A. Modular design to aid product differ
    14·2 answers
  • Sam believes in rewarding his employees for their hard work , he is acting as a
    12·1 answer
  • Pauline wants to develop a line of flatware and pottery. She is experimenting with various names and symbols to develop a tradem
    10·1 answer
  • A limited partnership: Multiple Choice a. has an unlimited life. b. can opt to be taxed as a corporation. c. terminates at the d
    15·1 answer
  • In one hour, the United States can produce 25 tons of steel or 250 automobiles. In one hour, Japan can produce 30 tons of steel
    6·1 answer
  • Inflation is defined as a rise in the general level of prices. When inflation occurs, the buying power of the dollar would:
    11·1 answer
  • The information given to you by your teachers is always accurate and should never be questioned. Please select the best answer f
    9·2 answers
  • The appropriate journal entry to transfer the cost of completed units from the Work in Process account would involve a credit to
    11·1 answer
  • The LIFO inventory cost flow assumes that the cost of the newest goods purchased are: A. assumed to be the first ones sold. B. a
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!