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stiks02 [169]
3 years ago
15

The following information is available for Cubic Company before closing the accounts. After all closing entries are made, what w

ill be the balance in the Retained earnings account? Net income $ 101,200 Retained earnings 98,000 Dividends 35,000
Business
1 answer:
Goryan [66]3 years ago
7 0

Answer:

$164,200

Explanation:

Given that,

After all closing entries are made,

Net income = $101,200

Retained earnings = $98,000

Dividends = $35,000

Therefore,

Balance of retained earnings:

= Retained earnings + Net income - Dividends

= $98,000 + $101,200 - $35,000

= $164,200

Hence, the balance in the Retained earnings account is $164,200.

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A progress report:
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Answer:

A. Monitors and controls production, sales, shipping, service, or related business processes.  

Explanation:

The Progress Report is the main tool for checking project status. It shows how much work still needs to be done on the project. This is done by estimating the effort required to complete each of the Work Items to be addressed in the project and showing how the estimated effort is evolving from one iteration to another. The Project Progress Report should be updated at the end of each iteration.

It is through the progress report that it is possible to monitor and control the production, sales, shipping, service, or related business processes.

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4 years ago
At the beginning of the current year, Sandy Brewer had a zero basis in her 38 shares of stock in Lindlee, an S corporation, a ze
Alona [7]

Answer:

As in her worthless note,Sandy has a zero adjusted basis. Her bad debt deduction is Nil according to Section 166 (b).

Section 166(g)(1) states that her capital loss realized on the deemed sale of this stoke is also nil because of zero adjusted basis in her worthless stock.

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Hence, her $7,400 ordinary loss carryforward can never be deducted by Sandy.

Sandy has no 2012 tax consequences from worthlessness of her Lindlee investments

7 0
4 years ago
Read 2 more answers
Fadeson, Inc., reported that it owns and operates 265 companies worldwide with 23% of its sales coming from Europe, 18% from Asi
VMariaS [17]

Answer:

a. A multinational cooperation

Explanation:

A multinational  organization is a company that carries out its business activities in many different countries at the same time.

As such, it is a company that operates in various countries.

Examples of such companies are Google, Microsoft, Shell, Mobil etc.

Since Fadeson, Inc., reported that it owns and operates 265 companies worldwide with 23% of its sales coming from Europe, 18% from Asia, 46% from the U.S., and 13% from other parts of the world, Clearly, Fadeson exemplifies  a multinational cooperation.

8 0
3 years ago
Something of value that is used to back up a loan is known as what?
lozanna [386]
 B. collateral is the right answer

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4 years ago
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If the superior's job with a particular employee during a performance appraisal is simply to sit and listen and then have open d
oee [108]

Answer:

b. Problem-solving

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Based on the scenario, it can be said that the type of performance appraisal interview being demonstrated is known as problem-solving. This form of performance appraisal focuses on letting the individual employee share all of their concerns and then addressing those concerns on how they can be solved in the most effective manner possible.

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3 years ago
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