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allsm [11]
3 years ago
9

Jackson Corp. has beginning retained earnings of $400. During the year Jackson had $800 of revenues and $200 in expenses. Jackso

n paid a dividend of $100. What is retained earnings at year-end?
Business
1 answer:
Serhud [2]3 years ago
3 0

Answer:

The retained earnings for the end of the year is $900

Explanation:

Retained earning is calculated as

Beginning retained earnings + Net income - cash dividend

in the questions we were given the beginning retained earning(BRE) as $400 and Cash dividend as $100. However we were not given the actual Net income but we can derive  the net income by deducting the expenses from the total revenue.

solution

Net income = revenue - expenses = $800 - $200= $600

Now we can calculate our Retained earnings by adding

Beginning retained earning $400

Net income $ 600

and deducting the cash dividend $100

$400 + $600 - $100 = $900

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Sophia Company purchased equipment costing $120,000. The equipment has a residual value of $20,000 and an estimated useful life
mixer [17]

Answer:

Year 1 : $20000

Year 2 : $460000

Explanation:

Year 1 calculation:

120000-20000/50000*10000 =$20000

Year 2 calculation:

120000-20000/50000*23000=$46000

8 0
2 years ago
When companies reward employees who report valid claims of corporate unethical conduct, what are they clearly encouraging?
weqwewe [10]
Whistleblowing!!!!!!!!
8 0
3 years ago
A company's flexible budget for 24,000 units of production showed per unit contribution margin of $2.50 and fixed costs, $31,200
ANTONII [103]

Answer:

The operating income will be:

Total contribution($2.50 x 29,000) = 72,500

Less: Fixed cost                                = 31,200

Operating income                            = 41,300

Explanation:

The contribution per unit is $2.50. This per unit contribution will be multiplied by the number of units produced and sold in order to obtain total contribution. Operating income is the excess of total contribution over fixed cost.

6 0
3 years ago
Sanchez Company has 48,000 shares of 7% preferred stock of $100 par and 92,000 shares of $50 par common stock issued and outstan
galina1969 [7]

Answer:

Check Explanation.

Explanation:

The following parameters are given for dividends of three years;

Year 1 = $497,000, Year 2 = $490,000 Year 3 = $524,000.

The number of shares= 48,000 of 7%, preferred stock = $100 par and 92,000 shares of $50 par common stock issued and outstanding.

Therefore,

Year one:

=> Amount Distributed = $497,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 497,000 - 336,000 = 161,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 161,000/ 92,000 shares =$ 1.75.

Year Two:

=> Amount Distributed = $490,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 490,000 - 336,000 = 113,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 113,000/ 92,000 shares =$1.23.

Year Three:

=> Amount Distributed = $524,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = $524,000 - 336,000 = 188,000.

=> Preferred divided per share = 336,000/ 48,000 = $7.

=> Common dividend = Common dividend/ 92,000 shares = 188,000/ 92,000 shares =$2.04

6 0
3 years ago
In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and
Anon25 [30]

Answer:

All workings are attached in the attachment for your convenience.

Explanation:

Download docx
5 0
3 years ago
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