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
kicyunya [14]
3 years ago
9

The Toy Store has beginning retained earnings of $318,423. For the year, the company earned net income of $11,318 and paid divid

ends of $7,500. The company also issued $25,000 worth of new stock. What is the value of the retained earnings account at the end of the year?
Business
1 answer:
kherson [118]3 years ago
7 0

Answer: $322 241

Explanation: Retained earnings is the capital that is left over after total dividends has been deducted and paid out. It is calculated as follows:

Retained earnings = retained earnings at the beginning of the year + net profits made during the current year - dividends paid out.

∴ Retained earnings = $318, 423 (opening Retained earnings)+ $11,318 (net profits / income) - $7,500 (dividends)

=$322,241

The $25,000 new stock issued generated income to the business, but this does not fall in the retained earnings line item. Rather it falls under the Ordinary Share Capital line item, which includes all the company's issued share capital.

You might be interested in
Coach valentine does not think that his team is playing up to its full potential. to increase the performance of the team, the c
matrenka [14]
Set specific, challenging, and reachable goals for the team. In addition, goal setting is the procedure of classifying to some degree that a team want to achieve and founding quantifiable goals and timeframes. When the team decide on a technique change to win the game in which this is an example of goal setting.
5 0
3 years ago
Does wealth make you happy? Yes, No - explain the reason for your response
xz_007 [3.2K]

Answer:

yes it makes.although it doesn't buy love and affection. it fulfills our need which makes us happy.

7 0
2 years ago
Which of the following types of business usually has the fastest inventory
vova2212 [387]

Answer:

grocery store - last choice

5 0
3 years ago
Read 2 more answers
1) Decide whether you would expect relationship between the following pairs of dependent and independent variables (respectively
kvasek [131]

Answer:

(a) GDP is a dependent variable and aggregate net investment is a independent variable. There is a positive relationship between the variables which means that an increase in the net investment will lead to increase GDP.

(b) There is a negative relationship between the variables which means that as the supply of wheat increases, as a result price of wheat falls. So, as the number of acres of wheat planted in a season  increases as a result price of wheat decline.

(c) There is a negative relationship between the variables which means that an increase in the interest rate in an economy will lead to increase the cost of borrowings and hence, net investment falls.

(d) There is a negative relationship between the variables because of the law of demand. It states that an increase in the price of a commodity will lead to reduce the quantity demanded for that commodity.

(e) There is no relationship between these variables. Both the variables are totally uncorrelated.

4 0
3 years ago
Melanie is working in a laboratory and spills a bottle of reagent which sources would most likely tell her how to clean the spil
I am Lyosha [343]
<span>The lab teacher would be one resource that could be asked, since they are likely experienced in the use and disposal of the reagent. Also, in other instances, the Material Safety Data Sheets could be accessed, since they will have all the steps required for handling, disposal, and cleaning of the reagent, and any hazards that need to be accounted for in the cleaning-up process.</span>
7 0
3 years ago
Other questions:
  • In December 2008, Hawaiian Telcom took action to strengthen its balance sheet by reducing debt. Although the company continued t
    11·1 answer
  • Financial information is presented below:
    11·1 answer
  • Garber Plumbers offers a 20% trade discount when providing $2,000 or more of plumbing services to its customers. In March 2021,
    13·1 answer
  • If the nominal exchange rate (expressed as foreign currency per unit of the domestic currency) rises 5%, domestic inflation is 2
    10·1 answer
  • Newspaper vending machines are often built so that customers can pay to lift a door and take a paper off a pile of daily newspap
    9·1 answer
  • Inventory and safety stock planning ________. leads to the development of the overall demand forecast leads to the development o
    5·1 answer
  • Anyone wan na talk?????
    6·1 answer
  • suppose the following two events occur in the domestic market for radiologists: a. some hospitals are outsourcing some radiology
    9·1 answer
  • Hunter has always been great at math. He has an accounting degree and wants to work for the federal government in the Governance
    7·1 answer
  • A broker just did something unethical , what did they do and what is it called ?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!