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ki77a [65]
3 years ago
8

In its most recent financial statements, Del-Castillo Inc. reported $30 million of net income and $970 million of retained earni

ngs. The previous retained earnings were $961 million. How much in dividends did the firm pay to shareholders during the year?
Business
1 answer:
Andrew [12]3 years ago
8 0

Answer:

the firm pay 39 millions dividends to his shareholders during the year.

Explanation:

The retained earnings identity is as follow:

beginning RE + net income - dividends = ending RE

we plug our values into the formula:

970 + 30 - dividends = 961

we clear dividends:

970 + 30 - 961 = dividends

And solve:

dividends = 39

<u>Notes:</u>

For every account, we always have this similar identity:

a beginning balance

a type of transaction that increase their balance

another kind of transaction which decreased

and a final balance which is the net of the previous.

beginning + increase - decrease = ending

Always try to identify how each transaction impact the account and from there, setup the equation.

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Presented below are long-term liability items for Lind Company at December 31, 2019.Bonds payable, due 2017 ………….. $600,000Notes
Nikitich [7]

Answer and Explanation:

Long-term Liabilities  

Bonds Payable                       $600,000  

Less:  

Discount on bonds payable        $45,000          $555,000

Notes payable                                           $80,000

Total Long-term Liabilities                           $635,000

8 0
3 years ago
Asking that all sources of income be revealed on a credit application is prohibited by the ecoa.
andreev551 [17]
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7 0
3 years ago
A person starts her own business after quitting a job in which she made $75,000 a year. Expenses include $100,000 for wages and
romanna [79]
Explicit costs are business expenses that are easily identifiable and can be accounted for.

1) Wages and salaries = 100,000
2) Utilities expenses = 15,000
3) Materials and Supplies = 150,000
4) Gasoline expense = 5,000

100,000 + 15,000 + 150,000 + 5,000 = 270,000 answer is C.
5 0
3 years ago
O pré-diagnóstico é a primeira etapa para a implementação de um planejamento estratégico. É possível identificar nesta etapa se
sineoko [7]

Answer:

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Explanation:

8 0
3 years ago
In a cost reimbursable contract, _____. the contract usually details the quality of the goods or services, the timing needed to
JulsSmile [24]

Answer:

the organization agrees to pay the contractor for the cost of performing the service or providing the goods plus a profit.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, cost reimbursable contract, etc.

In a cost reimbursable contract, the organization, which is the client agrees to pay the contractor for the cost of performing the service or providing the goods plus a profit.

This ultimately implies that, a client such as a business organization that enters into a cost reimbursable contract with another party such as a contractor, agrees to pay the contractor an agreed amount of money upon the completion or execution of the contract.

7 0
3 years ago
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