1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luda [366]
3 years ago
9

The changes in account balances of the Vel Corporation during Year 6 are presented below: Increase Assets $356,000 Liabilities 1

08,000 Capital stock 240,000 Additional paid-in capital 24,000 Vel has no items of other comprehensive income (OCI), and the only charge to retained earnings was for a dividend payment of $52,000. Thus, the net income for Year 6 is
a. $16,000
b. $36,000
c. $52,000
d. $68,000
Business
1 answer:
zzz [600]3 years ago
6 0

Answer:

b. $ 36,000

Explanation:

The fundamental accounting equation is

Assets = Liabilities + Stockholders Equity

Per the data provided in the question regarding changes in account balances

$ 356,000 = $108,000 + (240,000+24,000)

$ 356,000 = $ 372,000

= - ($ 14,000)

Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.

$ - 14,000 + $ 52,000  = $ 36,000

You might be interested in
You are organizing an executive event for the company you work for. Write a letter to the person in charge of a venue that you a
babymother [125]

Answer:

                                  Mi-Tech Information and Communication INC,

                                  43 D-Drive, Michigan,

                                  USA.

                                  August 8th, 2020.

The Empire Event Center INC,

3 Boulevard avenue, Michigan,

Sir,

            INFORMATION INQUIRY FOR HOSTING AN EVENT

As the communication officer of the above named company, I wish to bring to your notice about our aim of hosing our end of the business year party using your facility. This is based on the agreement reached by the management board.

Unfortunately, due to lack of detailed information and financial implication involved, I was asked to write to your company. The information I need from your company include:

1. The cost of the event Venue

2. The cost of catering of food for 200 people in the venue. Drinks and water would be inclusive.

3. The entertainment, would it be free when renting the event venue or it would attract extra charge?

4. The valet who would render services, what are their charges like or would the cost be catered by your company?

5. The proposed date for the party is 30th and 31st December. Hope your organization is not engaged by that time?

6. What other extra services is available and which your company offers for such events we are planning to host?

7. Is there any other extra cost which my company should be aware of if we are to use your facility?

I will need to relay back to the management board the above answers to questions which I asked above. I look forward to your response soonest.

Yours sincerely,

Adam Michael (Communication officer)

For: Mi-Tech Information and Communication INC.

Explanation:

8 0
4 years ago
Suppose that you were the manager of a large retail store that was currently experiencing a shoplifting problem. Every hour, app
Soloha48 [4]

<u>Answer:  </u>

Benefits are amplified at a point where the minor income efficiency (MRP) is equivalent to the expense of employing a security watch. In this way, a benefit expanding firm will enlist as long as the MRP is more noteworthy than the wages or the expense of recruiting a security monitor.  

On the off chance that I need to amplify benefit, at that point I won't enlist the security monitor at a compensation pace of $20 in light of the fact that the expense of recruiting is more noteworthy than the expansion to the complete income or MRP, which is equivalent to $15 (expecting that the security watchman will kill shoplifting).  

The above examination shows that a security watchman will be paid a compensation rate for every hour, which is equivalent to the sum spared every hour by the security monitor for wiping out the normal shoplifting every hour.  

The sum spared is an expansion to the all out income, and no benefit boosting firm would pay a compensation rate higher than the augmentations to the complete income.

8 0
3 years ago
What are some ways to build relationships within the core team?
Anon25 [30]

Answer:

some of these ways are included in the answers below

Explanation:

To build relationship within the core team:

1. You have to recognize and acknowledge the individual motives and effort of team members

2. You have to make room for open communication in the team

3. You have to develop a way of sharing values in the team

4. Everyone should be carried along when it comes to meaningful project learning

5. At periods of success, you have to celebrate such.

6. Communicate well and properly especially when it come to periods of conflicts.

5 0
3 years ago
Three roommates will share the cost of an apartment. Monthly rent is $1,050. Average monthly utilities are estimated to be $150,
Lostsunrise [7]

Based on the various costs incurred by the three roommates, the monthly cost of the apartment is <u>$1,410.</u>

<h3>What is the most cost of the apartment?</h3>

The monthly cost of the apartment are all costs that relate to maintaining it and providing services to it.

This can be found as:

= Monthly rent + Monthly utilities + Internet service + cleaning fees

= 1,050 + 150 + 120 + 90

=  $1,410

Find out more on household supplies at brainly.com/question/21370573.

5 0
2 years ago
A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 5 percent. Thi
lesya692 [45]

Answer:

1. 11%

2. Yes and it is 6% for the large

3. Entry

4. 5%

Explanation:

4 0
2 years ago
Other questions:
  • Marsha’s Pet Store employs six employees. Their duties are to sell pets, replenish the stock, keep the pets’ cages clean, feed t
    5·1 answer
  • A monopolistic seller of sports cars has traced out the following demand curve: 10 customers have willingness to pay (WTP) of $1
    5·1 answer
  • Accounting is indispensable to management discuss?
    7·1 answer
  • Based on your understanding of the different items reported in the balance sheet and the information they provide, which stateme
    7·2 answers
  • Which of these would best satisfy a human need?
    14·2 answers
  • Refer to the demand schedule below: Price ($) Quantity demanded 80 0 70 50 60 100 50 150 40 200 30 250 20 300 10 350 0 400 a. Su
    7·1 answer
  • Please help I'll give brainliest
    9·1 answer
  • Some students and scholars may owe money with their tax return. Nonresidents have which of the following payment options?
    13·1 answer
  • Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies E
    7·1 answer
  • A data warehouse is a ________ collection of data, gathered from many different ________ databases, that supports business analy
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!