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N76 [4]
3 years ago
9

Wildhorse Co. began the year 2022 with retained earnings of $651000. During the year, the company sold additional shares of stoc

k for $1017000, recorded revenues of $649000, expenses of $376000, and paid dividends of $141000. What was Wildhorse's retained earnings balance at the end of 2022?
Business
1 answer:
Volgvan3 years ago
7 0

Answer:

$1,800,000

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

Ending retained earnings = Beginning retained earnings + additional stock issued + net income - dividend paid

= $651000 + $1017000 + $649000 - $376000 - $141000

= $1,800,000

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At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b
meriva

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

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3 years ago
Eric wants to attend a public four-year university. He estimates that the average cost of one year at this university is $19,500
pishuonlain [190]
In this problem he need 19.500 but only earns 325 a month. From this we take what is needed (19500) and divide it by what is earned (325). This will give you 60. So therefore it will take him 60 months to earn enough for one year at university.
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3 years ago
Read 2 more answers
The Comparative Market Analysis (CMA) is a tool for licensees; which statement below is correct about the CMA
Molodets [167]

Option D is correct.  A CMA is not an appraisal and should not be advertised as one.

<h3>What is a comparative market analysis?</h3>

This is the term that is used to refer to the market analysis that may

be done by the real estate agents.

The goal is to analyze and find out the existing prices in the market by the available listings and previous listings of properties. The reason why the real estate agencies carry out the CMA is to determine the right prices for home sellers to sell their homes.

On the other hand, the purpose is to enable the buyers of these homes to buy the properties at the best possible prices.

Complete question

The Comparative Market Analysis (CMA) is a tool for licensees; which statement below is correct about the CMA?

A) The CMA is the same as an appraisal

B) A CMA is an estimate of value and an appraisal is exact value

C) A CMA and an appraisal must both conform to USPAP standards

D) A CMA is not an appraisal - and should not be advertised as one

Read more on market analysis here;brainly.com/question/17246850

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3 0
2 years ago
When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by?
sergij07 [2.7K]

When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by <u>selling common stock</u>. Long-term funding can be defined as any financial tool with maturity going beyond one year (such as bank loans, bonds, leasing and other forms of debt finance), and public and private equity instruments.

<h3>What is a retained earnings?</h3>

Retained earnings are the total of profit an establishment has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders.

Therefore, the correct answer is as given above

learn more about retained earnings: brainly.com/question/25631040

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8 0
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How does a mayor-council system function?​
ValentinkaMS [17]

Answer:

The mayor is basically the city's chief executive, Meanwhile the council is the city's primary legislative body if you will. These make up general characteristics of a strong mayor council of governments . Therefore the mayor could or may appoint and remove departmental heads. The mayor can also draft and propose a budget to the city council basically.

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