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
pshichka [43]
3 years ago
15

Daniel Hair Stylists' adjusted trial balance and income statement follow. Prepare Daniel's statement of retained earnings for th

e year ended December 31, 2018.
Daniel Hair Stylists Income Statement, Year Ended December 31, 2018

Revenues
Service Revenue $16,700
Expenses
Rent Expense $5,100
Interest Expense 2,400
Depreciation Expense - Equipment 1,700
Supplies Expense 500
Total Expenses 9,700
Net Income (Loss) $7,000
Daniel Hair Stylists Adjusted Trial Balance

Account Title Debit Credit
Cash $1,200
Accounts Receivable 1,900
Office Supplies 1,000
Equipment 19,700
Accumulated Depreciation - Equipment $1,700
Accounts Payable 950
Interest Payable 800
Notes Payable 3,500
Common Stock 10,950
Dividends 1,100
Service Revenue 16,800
Rent Expense 5,100
Supplies Expense 500
Depreciation Expense - Equipment 1,700
Interest Expense 2,400
Total $34,600 $34,600
Business
1 answer:
ICE Princess25 [194]3 years ago
6 0

Answer:

Explanation:

The preparation of the statement of retained earnings is shown below:

                                              Daniel Hair Stylists'

                                    Statement of retained earnings

                           For the year ended December 31, 2018

Beginning retained earning balance        $0

Less: Net loss                                            -$7,000

Less: Dividend paid                                  -$1,100

Ending retained earning balance           -$8,100

You might be interested in
Adriana is not keen on collecting facts and information while solving problems. she is spontaneous in decision making and usuall
V125BC [204]
Her decision is known as a "satisfice" decision
4 0
3 years ago
Oliver has $5000 in a savings account, has $8000 invested in the stock
icang [17]

Answer:$8400

Explanation:

Just took the test

5 0
3 years ago
Souped Inc., a firm that manufactures ready-to-eat soups, offers incentives based on an employee's performance rating and the em
mel-nik [20]

Answer: B -Merit Pay

Explanation: Merit pay is a performance based incentive to employees. It is financial in nature which means that an employee might be given a bonus or a pay rise for an outstanding performance.

Merit pay is a good performance compensation policy which helps to boost employees performance and there by increasing a company's overall goals of profit making.

Merit pay is a very good incentive which gives employees a sense of belonging in an organisation. it helps employees boost their moral as they are sure that their efforts will be well compensated by the organisation.

5 0
3 years ago
Cogswell cola purchased a machine for $237,500. The firm paid another $5,750 for delivery and installation. In addition the firm
Novay_Z [31]

Based on the cost of purchasing the machine and the delivery and installation fees, the initial outlay is $243,250

<h3>How much is the initial outlay?</h3>

This can be found as:

= Cost of purchasing machine + Installation and delivery cost

Solving gives:

= 237,500 + 5,750

= $243,250

Find out more on fixed asset capitalization at brainly.com/question/25355478

#SPJ1

3 0
2 years ago
Betty owns 100 shares of MegaCorp, Inc., which she bought in MegaCorp’s initial public offering of 10,000 shares. MegaCorp makes
yaroslaw [1]

Answer:

Preemptive rights

Explanation:

Preemptive rights are a way of preventing the dilution of a shareholder's ownership in a corporation.  Preemptive rights are set by a contract clause that establishes that in case the corporation issues new stock, then a current shareholder must be given the right to buy additional shares before the stocks are sold to other investors.

The preemptive right usually gives the stockholder the right to buy new stock in the same proportion as his/her current stock ownership. For example, if an investor currently owns 2% of the company's stock, he/she will be able to buy 2% of every new set of stocks issued.

4 0
3 years ago
Other questions:
  • The first year they were offered, John wanted a tablet computer, but he did not know which one to choose. He waited until there
    11·1 answer
  • Identity and explain the type of adjustment raised in each transaction entered into by ABC Ltd. show how each adjustment will be
    14·1 answer
  • In the context of the six sections of the Position Analysis Questionnaire (PAQ), _____ represent the reasoning, decision-making,
    9·1 answer
  • Paying attention to trends that might impact your future career is called
    15·2 answers
  • Suppose Ningbo Steel had sales revenue of $11,000 sales revenue, cost of goods sold of $5,000, operating expenses of $3000, inte
    12·1 answer
  • How often do bondholders generally receive interest payments on their bond investment?
    11·1 answer
  • In 2009, an agricultural company introduced a new cropping process which reduced the cost of growing some of its crops. If sales
    14·1 answer
  • The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inven
    14·1 answer
  • Define bond economics.​
    15·1 answer
  • An insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000. The insured dies 15 yea
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!