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Yuki888 [10]
3 years ago
15

Red Carpet Industries had retained earnings of $537,500 and $135,000 of net income. On its previous balance sheet, at 12/31/18,

the company had reported $445,000 of retained earnings. No shares were purchased during 2019. How much in dividends did the firm pay during 2019?
Business
1 answer:
kakasveta [241]3 years ago
6 0

Answer:

$42,500

Explanation:

Red carpet had retained earnings of $537,500 and a net income of $135,000

On the previous balance sheet the retained earnings that was reported was $445,000

The first step is to calculate the change in retained earnings

= $537,500-$445,000

= $92,500

Therefore the amount of dividend paid by the firm can be calculated as follows

=Net income-change in retained earnings

= $135,000-$92,500

= $42,500

Hence the dividend paid by the firm during 2019 is $42,500

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Which of the following statements about annuities are true?
viktelen [127]

Answer:

A)The first cash flow of an annuity due is made on the first day of the agreement.

D)The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

An annuity can be regarded as a series of payments which is made at an stable intervals. It can be classified based on the payment frequency. These could be monthly home mortgage payments,

It should be noted that in annuities,

✓The first cash flow of an annuity due is made on the first day of the agreement.

✓The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

6 0
2 years ago
Marx would most likely support a plan for (5 points)
alekssr [168]
Marx would most likely support A, government ownership of most production
8 0
3 years ago
Purchasing office supplies on account will: Multiple Choice Not change assets. Increase assets and decrease liabilities. Increas
Kobotan [32]

The correct option is C - Increase assets and increase liabilities

<u>Explanation:</u>

When anorganization purchases office supplies on account then it becomes essential to record such supplies as supplies on hand. Generally, in a business organization, the supllies on hand are used up within the span period of one year which means that they are to be recorded as current asset in the financial statement ( balance sheet). As no cash has been paid to merchandise, so it increases the liabilities also.

Therefore, it will increase the current assets and current liabilities.

3 0
3 years ago
You want to ctegsosit $15,00na bank at an interest rate of 7 percent per year What is the uture vale of this money after three y
Svetlanka [38]

Answer:

A $18, 375.63

Explanation:

The amount to be deposited is $15,000

Interest rate is 7 percent

time is 3 years

the future value will be; the applicable formula

A = p x ( 1 + r) ^n

A = $15,000 x ( 1 + 7/100) ^ 3

A= $15,000 x 1.225043

A=$18,375. 64

6 0
2 years ago
Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in
ipn [44]

Answer:

$31,000

Explanation:

decrease in accounts receivable = $1,000

Sales = $30,000

Cash collected from customers = Sales plus decrease in accounts receivables

                                                    = $30,000 + $1000

                                                    = $31,000

The decrease in account receivables represents the collection of cash from a customer. If sales amount to $30,000, all must have been collected in cash hence no amount was outstanding to increase receivables. Hence the addition of the two items gives the cash collected from customers.

5 0
3 years ago
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