Answer:
C. $737,500
Explanation:
The formula to compute the ending balance of retained earning is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
= $659,000 + $220,000 - $141,500
= $737,500
The net income is calculated below:
= Sales revenues - expenses
$600,000 - $380,000
= $220,000
Answer:
$0
Explanation:
Data given in the information
Product X is the byproduct.
In addition, the By products are recorded in the general ledger at the point of sale
So in this case, the quantity sold is considered only no other things would be recognized
Hence, in this the quantity sold and quantity produced is not recorded
Therefore , No ending inventory should be recognized in the general ledger for this by products
Answer:
$1,240,000
Explanation:
Given that,
Net income = $1,000,000
Pretax foreign currency translation adjustment = $400,000
Unrealized pretax loss on debt securities = $80,000
Effective tax rate = 25%
Total other comprehensive income:
= Foreign currency translation adjustment - Loss on debt securities
= [$400,000 × (1 - 25%)] - [$80,000 × (1 - 25%)]
= ($400,000 × 0.75) - ($80,000 × 0.75)
= $300,000 - $60,000
= $240,000
Comprehensive income:
= Net income + Total other comprehensive income
= $1,000,000 + $240,000
= $1,240,000
The answer is C. Delegation.
Delegation is the process of <span>assigning meaningful authority and responsibility to managers and employees lower in the hierarchy. Managers needs to delegate tasks to their people so they can be able to develop leaders in her/his team.</span>
Answer:
make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date.
Explanation:
Adjusting entries are used at the end of an accounting period to assign income and expenses that has accrued.
In this instance when the interest reciept day comes after accounting period we need to recognise the amount of interest earned so far.
The amount accrued since last interest payment date is calculated.
This amount has been earned so it should be recognised as revenue. To do this we debit interest receivable and credit interest revenue.
