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Alexxx [7]
3 years ago
8

Last year Builtrite had retained earnings of $140,000. This year, Builtrite had true net profits after taxes of $65,000 which in

cludes common stock dividends received of $10,000, and also paid a preferred dividend of $35,000. What is Builtrite’s new level of retained earnings? A) $180,000 B) $190,000 C) $200,000 D) $170,000
Business
1 answer:
Butoxors [25]3 years ago
4 0

Answer: $160,000

 

Explanation: Retained earnings can be defined as the amount pf earnings left with the company after taking into consideration all tyoes of dividends and taxes.

formula  :-

Retained earnings = previous retained earnings + net income - dividends to equity holders - dividends to preference holders

thus,

Retained earnings = $140,000 + $65,000 - $10,000 - $35,000

                                 = $160,000

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Unless an exemption applies, under the Investment Advisers Act of 1940, an investment adviser is required to A) furnish a statem
Anarel [89]

Answer:

for example in a small timr of a gift shop in a large bowl with the story and the app store and all of them in a new location for the next i would have a little bit more float in my house and the other half the time it is th good for me a lot and all of my dear friend and all the others I am not playing in my own words and all the other ones are you and all the others who have a problem

4 0
3 years ago
On December 29, 2005, BJ Co. sold an equity security investment that had been purchased on January 4, 2004. BJ owned no other ma
sineoko [7]

Answer:

AFS 2004 market price decline exceeded 2005 market price recovery

No No

The security cannot be classified as available-for-sale because the unrealized gains and losses are recognized in the Income Statement. Unrealized gains and losses on available-for-sale securities are recognized in owners' equity, not earnings.

The second part of the question is somewhat ambiguous. The 2004 price decline could exceed or be exceeded by the 2005 price recovery. The loss in the first year is not related in amount and does not constrain the realized gain in the second year.

The way to answer the question is to read the right column heading as implying that the earlier price decline must exceed the later price recovery. With that interpretation, the correct answer is no.

For example, assume a cost of $10 and a market value of $4 at the end of the first year. An unrealized loss of $6 is recognized in earnings. During the second year, the security is sold for $12. A realized gain of $8 is recognized-the increase in the market value from the end of the first year to the sale in the second year. Thus, the market decline in the first year did not exceed the recovery in year two. (It could have exceeded the recovery in year two but there is no requirement that it must.)

Explanation:

3 0
3 years ago
Sue is a small business owner who often gives gifts to clients. She gives a $40 gift to her client, Mr. Smith, and his wife. Sue
PilotLPTM [1.2K]

Answer:

D) $801

Explanation:

Businesses can only deduct $25 per gift per client, in this case the client's wife is not an actual client, so Sue can only deduct $25 for the gift plus the wrapping expenses. She can also deduct the $400 spent in the calendars and the $370 watch.

Sue's total deductions = $25 + $6 + $400 + $370 = $801

8 0
3 years ago
A personal business letter is written by an individual to a company for resolving issues related to an unexpected error on a bil
yarga [219]

Answer:

See the explanation below.

Explanation:

                                                                        62, Charlton Street,

                                                                        Ibadan, Oyo State,

                                                                        Nigeria.

                                                                        14 May 2020.

The Accounting Officer,

XYZ Company,

Ibadan, Oyo State,

Nigeria.

Dear Sir,

Complaint Lodgment Over an Unexpected Error in My Bill

This is to bring to your notice an unexpected error of $9 over charge in the consumable items I purchased from your store yesterday, 13 May 2020.

From my recalculation of the total amount for the purchased item, I could observed that the error was due to a transposition of figure by your cashier; he charged me a total sum of $76 instead of $67.

Copies of the invoice and the payment receipt for the items are hereby attached to this letter for your verification. After your verification, kindly get back to me so that I can come to your office for the refund.

I look forward to receiving your usual timely response.

Yours sincerely,

Amcool.

4 0
3 years ago
Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one
IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

8 0
3 years ago
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