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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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Pine Corp. produces three products, and currently has a shortage of machine hours since one of its two machines is down. The sel
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Answer:

product B

Explanation:

The computation is shown below;

<u>Particulars           Product A          Product B             Product C </u>

Selling Price            $5.00                $3.00                  $5.00

Less: Variable cost per unit ($3.50)   ($2.00)               ($2.00)

Contribution per unit     $1.50               $1.00                $3.00

Machine hours per unit   0.75                 0.25                    1

Contribution per machine hour $2.00   $4.00            $3.00

                                         ($1.50 ÷ 0.75)  ($1.00 ÷ 0.25)   ($3.00 ÷ 1)

The product B should be produced as it has the highest contribution per machine hour

6 0
3 years ago
How will the increase in government spending financed by borrowing affect national savings?.
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Increament in government spending which is financed by borrowing will most likely affect national savings.

This is because borrowing money means you are spending from your future income.

The negative effect of spending borrowed money will most likely be felt when the money is not used for money yielding ventures.

This means that when borrowed money is not used to boost the economy of a country, it will most likely lead to the depletion of the national savings or reserve.

<h3>Viable areas to utilizing borrowed money</h3>

  • Infrastructure development
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Learn more about National Savings at brainly.com/question/15109837

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The balance sheet of Computer World reports total assets of $350,000 and $450,000 at the beginning and end of the year, respecti
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Answer:

37.5%

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In this question, we are asked to calculate the Value of the cash return on asset

We use a mathematical representation to do this. Let’s get the formula.

Mathematically:

Cash return on assets = operating cash flows/average total assets

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