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fenix001 [56]
3 years ago
6

Allen Insurance Agency started the year with a beginning Retained Earnings balance of $ 29 comma 000. During the​ year, Allen In

surance Agency earned $ 40 comma 000 of Service Revenue and incurred $ 25 comma 000 of various expenses. Dividends of $ 9 comma 000 from the business were paid to stockholders. After the closing entries are recorded and​ posted, what will be the balance of Retained​ Earnings?
Business
1 answer:
docker41 [41]3 years ago
3 0

Answer: $35,000

Explanation:

Retained Earnings refers to the Net Income that the business keeps after it pays out a portion of it to Shareholders as dividends.

Closing Balance on Retained Earnings = Opening Balance + Net Income - Dividends

Net income = Revenue - Expenses

= 40,000 - 25,000

= $15,000

Closing Balance on Retained Earnings = 29,000 + 15,000 - 9,000

= $35,000

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Based on the information given, the incentive that should be used is that an employee with a cost-cutting idea will be paid 10% of the first-year savings.

Strategic objectives simply mean the purpose statement that are vital in creating an overall vision for a company and setting its goals to achieve desired outcome.

Since the manufacturer of electrical circuits, wants to decrease the per-unit cost of making its products, the incentive should be that an employee with a cost-cutting idea will be paid 10% of the first-year savings. This will help the workers align with the objective

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7 0
3 years ago
Lantz Company has provided the following information: • Cash sales totaled $255,000. • Credit sales totaled $479,000. • Cash col
NNADVOKAT [17]

Answer:

The amount of Lantz's operating revenue is $734,000

Explanation:

The computation of the operating revenue is shown below:

= Total cash sales + Total credit sales

= $255,000 + $479,000

= $734,000

Since we have to compute the operating revenue, so we considered only revenue part not expenses part

The other information which is mentioned in the question is not being considered because it is related to the operating expenses. So, ignored it.

3 0
3 years ago
According to interdependency theory, the net profit or loss a person encounters in a particular interaction is known as the?
Semmy [17]

According to interdependency theory, the net profit or loss a person encounters in a particular interaction is known as the outcomes.

According to the social exchange theory known as interdependence, interpersonal interdependence—which is defined as "the process through which interacting people impact one another's experiences"—defines interpersonal relationships.

The consequences of this structure for human psychology are discussed in the interdependence theory along with the structural characteristics that define relationships. The interdependence theory views the relationships between people as being as important as the individuals themselves, in contrast to most psychological theories that place a strong emphasis on the individual, contending that people's distinct experiences, cognitions, or personalities are to blame for how they behave.

This makes the theory a truly social psychological one and provides a much-needed explanation of the nature and consequences of interdependence.

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2 years ago
Under the Uniform Securities Act, the threshold where a State-registered adviser is considered to have taken custody of client f
VashaNatasha [74]

Answer:

The advisory fees will be "$500, 6 months or more in advance of rendering services".

Explanation:

  • Whenever a nation-registered investment manager recognizes $500 (and sometimes more) of advanced consulting fees, 6 months more than before anticipation of providing services, then perhaps the consultant is deemed to have obtained ownership of customer funds being defined by NASAA.
  • (In comparison, it should also be noted that perhaps the Advisers (investment) Act of year 1940 established the cap at $1,200 among Federal Covered consultants, although that wasn't the law for govt-registered consultants).
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3 years ago
If the price elasticity for frappuccinos is 0.6, by how much would unit sales drop?
shusha [124]

Frappuccinos drop in unit sales = 3.87%

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% change in quantity demanded = Price elasticity for frappuccino * % change in price

= 0.6 * 6.45%

= 3.87%.

Frappuccinos are almost always loaded with fat, sugar, and calories, except for the Coffee Light Frappuccino, featured as one of the healthiest Starbucks drinks on this list. All four of Starbucks' unhealthiest drinks are frappuccinos.

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