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777dan777 [17]
3 years ago
12

Turquoise and Topaz Sisters had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of

Retained Earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
A.$10,800
B.$14,300
C.$12,600
D.$9,100
Business
1 answer:
Over [174]3 years ago
6 0

Answer:

No option is correct, the correct answer is $7,000.

Explanation:

If Turquoise and Topaz Sisters had retained earnings of $10,000, you must subtract the amounts restricted for plant expansions and bond repayments.

$10,000 (retained earnings) - $2,000 (plant expansions) - $1,000 (bond repayments) = $7,000 available for dividends

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Answer:

Borrowed amount of $2,500

Explanation:

The computation is shown below;

The Total available balance is

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3 0
3 years ago
On average, a person with a bachelor's degree earns
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Answer:

B

Explanation:

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5 0
3 years ago
If the four largest firms in an industry produce 20, 10, 7, and 3 units of output, respectively, and total industry output is 10
GrogVix [38]

Answer:

40%

Explanation:

The four firm concentration ratio calculates the concentration ratio of the 4 largest firms in an industry.

Four firm concentration ratio = 0.2 + 0.1 + 0.07 + 0.03 = 0.4 = 40%

7 0
3 years ago
A schedule listing account balances for the current and previous years, and columns for adjusting and reclassifying entries prop
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Answer:working trial balance

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4 0
4 years ago
Read 2 more answers
Why is a high-quality bond typically considered a lower-risk investment than a stock?
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