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Montano1993 [528]
3 years ago
15

The balance in retained earnings at December 31, 2017 was $1,440,000 and at December 31, 2018 was $1,164,000. Net income for 201

8 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $220,000. A cash dividend was declared and paid.
The amount of the cash dividend was

$496,000.
$556,000.
$776,000.
$1,276,000.
Business
1 answer:
Irina18 [472]3 years ago
6 0

Answer:

$556,000

Explanation:

Beginning retained earnings (2017) + net income - stock dividend - cash dividend = Retained earnings (2018)

1,440,000 + 1,000,000 - 720,000 - cash dividend = 1,164,000

Cash dividend = 1720000−1164000

= $556000

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Which of the following statements is true of service facilities? Select one: a. They store their services as physical inventory.
matrenka [14]

Answer:  Option B

Explanation: Service facilities refers to those companies that have business of providing services such as emergency medical care, automobile repair etc.

These firms belongs to service industry in which every customer might need a little bit different work from the others. Thus, in order to know their customers specific wants and preference they must have a close relationship with them.

Hence from the above we can conclude that the right option is B.

6 0
3 years ago
For the most recent year, Triad Company had fixed costs of $190,000 and variable costs of 75% of total sales revenue, earned $58
poizon [28]

Answer:

The computations are as follows

Explanation:

a)  Before tax income  is

 = After Tax Income ÷ (1 - Tax Rate)

= $58,500 ÷ (1 - 0.35)

= $90,000

b) Total Contribution Margin

Contribution Margin = Fixed Costs + Before Tax Income

= $190,000 + $90,000

= $280,000

c) Calculation of Total Sales

Variable Cost is 75% of Sales

SO, Contribution Margin 25% of Sales

Contribution Margin = $280,000

25% of Sales = $280,000

Sales = $280,000 ÷ 25%

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d) Break Even Point in dollars

Break Even Point in dollar = Total Fixed Costs ÷ Contribution Margin percentage

= $190,000 ÷ 25%  

= $760,000

We simply applied the above formula

8 0
3 years ago
On July 1, 2019, Ted, age 73 and single, sells his personal residence of the last 30 years for $368,000. Ted’s basis in his resi
olga_2 [115]

Answer:

Realized gain is $297,144

Recognized gain is $47,144

Adjusted basis for new residence is $175,000

Explanation:

•Ted's Realized gain:

Sales price $368,000 - basis $48,776 - expenses $22,080 = $297,144.

• Ted's Recognized gain:

Realized gain $297,144 - exclusion upto $250,000 = $47,144.

• Ted's basis of the new residence is its cost of $175,000.

7 0
3 years ago
Carly is eager to tell the interviewer about the team she led of product managers from the united states, latin america, and eur
pochemuha
I would say that the dimension of her global mindset would be sensitivity to people of other cultures and a desire to learn from people of other  parts of the world and also show that we all have basic qualities of humanity such as wanting to co-operate and be an active part of a team. 
6 0
3 years ago
Which of the quadrants in the service process matrix has high labor intensity and high​ customization?A.service factoryB.profess
Lynna [10]

B. Professional Service

The service process matrix rates services from low to high on labor intensity and on customization. Professional services are high on both.

6 0
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