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GREYUIT [131]
3 years ago
8

uction Services started the year with total assets of and total liabilities of . The revenues and the expenses for the year amou

nted to and ​, respectively. During the​ year, the company did not issue any common​ stock, but it distributed dividends of . Calculate​ Dynamic's net income for the year.
Business
1 answer:
VARVARA [1.3K]3 years ago
8 0

Answer: $20,000

Explanation:

Net Income is the amount from revenue that the company made over expenses. It is therefore;

= Revenue - Expenses

= 110,000 - 90,000

= $20,000

<em>Note: Dividends are not considered in the calculation of Net Income as they are not expenses. </em>

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An appropriate choice of outdoor play equipment for a toddler play yard would be
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An appropriate choice of outdoor play equipment for a toddler play yard would be a small wooden playhouse. This is so because it helps them improve their health through using lots of energy which could be a good amount of exercise. Another reason is that it will improve their social skills. Since they will be talking and interacting with their playmates, their social skills will be properly honed. This will also help them become responsible because of the rules set on the playhouse. 
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3 years ago
Bulldog Holdings is a U.S.-based consumer electronics company. It owns smaller firms in Japan and Taiwan where most of its cell
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I think it’s a because it’s talking about consumer electronics
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3 years ago
The following are some of the steps in the accounting cycle. Which of the following reflects the steps in the correct order? Fin
lukranit [14]

Answer:

The correct answer is:

  1. Journalized business transactions are posted to the ledger.
  2. An unadjusted trial balance is prepared.
  3. Financial statements are prepared.
  4. Closing entries are journalized and posted to the ledger.
  5. A post-closing trial balance is prepared.

Explanation:

The following phases or stages are distinguished in the accounting process or cycle:

  1. Initial situation balance.
  2. Accounting opening.
  3. Record of the operations of the year.
  4. Periodification
  5. Adjustments prior to the determination of the benefit - or loss - generated in the year.
  6. Balance check sums and balances.
  7. Calculation of the result.
  8. Accounting closing.
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7 0
2 years ago
Crane Company has 900 shares of 4%, $100 par cumulative preferred stock outstanding at December 31, 2018. No dividends have been
labwork [276]

Answer:

c) $7200

Explanation:

Preference dividends have preference when it comes to payment of dividends.

This means that we pay the Preference Stock holders their dividend (which is fixed) and there after the remainder is paid up to the Common Stockholders

Preference dividend = 900 shares x $100 x 4 % =  $3600

When Preference Stock is Cumulative, it means that all previous dividends in arrears have to be paid up before any current year distributions are made.

<u>2018</u>

Cumulative Preference dividend = $3600 (2017) + $3600 (2018) = $7200

therefore,

Dividends in arrears at December 31, 2018 total $7200

8 0
3 years ago
ToySpot, a soft toy manufacturer, receives an order of 250 teddy bears. For this particular order, its total inventory includes
Vinil7 [7]

Answer:

185 teddy bears are in work in progress inventory

Explanation:

given data

receives order = 250 teddy bears

fabric = 300 yards

ribbon = 200 yards

cotton = 250 pounds

to find out

how many teddy bears can be considered work-in-process inventory

solution

we know that teddy bears to be manufactured is = 250

so finished and this comes under finished goods inventory are

goods inventory = 65 teddy bears

and still in the process is 185 teddy bears

so they needs to undergo further process because the work is still not completed

so we can say that 185 teddy bears are in work in progress inventory

3 0
3 years ago
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