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hram777 [196]
3 years ago
11

Instruments had retained earnings of $ 390 comma 000 at December​ 31, 2017. Net income for 2018 totaled $ 220 comma 000​, and di

vidends declared for 2018 were $ 40 comma 000. How much retained earnings should Quartz report at December​ 31, 2018​?
Business
1 answer:
VashaNatasha [74]3 years ago
3 0

Answer:

The retained earnings should Quartz report at December​ 31, 2018 is $570,000

Explanation:

In this question, we apply the retained earnings equation which is shown below:

Ending retained earnings balance = Beginning retained earning balance + net income - dividend paid

= $390,000 + $220,000 - $40,000

= $570,000

The net income should be added while dividend should be deducted for finding out the ending retained earnings balance

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Explain the importance of departmental income statement in an enterprise in which several separate departments function. Provide
abruzzese [7]

Answer with Explanation:

Following are the benefits of using departmental Income Statements:

  • Gives an understanding of where the company lacks efficiency
  • Helps in setting budgets and efficiency cuts so that the management of the department works hard to lower operational lead time and other efficiencies found in the operational activities. By setting the budgeted income statement for the department, the appraiser of the company performance is possible by using variance analysis method.
  • The Departmental Income Statement also helps in appraising performance of each department which helps identifying which department requires upper level management attention.
  • It is very useful when undergo financial analysis of departmental income statement which helps in identification of problematic areas, which are lowering profits and thus corrective actions can be taken to overcome these issues.
  • It helps in allocating of jointly shared costs of non production overheads like Accounts Department Costs, Audit Department Costs, Electricity bills, etc. This helps in better appraisal of departments and identification of appropriate basis. In the above case the appropriate basis would be Income balances for accounts department, Income Balances For audit department cost and electricity units consumption of each department.

The above benefits makes the department income statements important for the managerial use.

4 0
4 years ago
With employer-paid training, workers have the potential to become more productive not only in their present employment but also
alexdok [17]

Answer:

The answer is (E) For most firms that invest in training their employees, the value added by that investment in employees who stay exceeds the value lost through other employees’ leaving to work for other companies.  

Explanation:

This question is a dilemma for companies: Should they invest on training and development for people who might not stay in the company for long periods of time? In the end, even if the employees don’t stay long in the company, the value they bring to the company after being trained are usually more significant than if the employee wasn’t trained in the first place. After all, the risk for mismanagement is higher if the latter was implemented – and will result in higher loss for the company since the bad performance of unskilled employees might impact the company not only financially, but also reputation-wise.  

6 0
3 years ago
Golf-course designers have become concerned that old courses are becoming obsolete since new technology has given golfers the ab
goldfiish [28.3K]

Complete Question:

Golf-course designers have become concerned that old courses are becoming obsolete since new technology has given golfers the ability to hit the ball so far. designers, therefore, have proposed that new golf courses need to be built expecting that the average golfer can hit the ball more than 230 yards on average. suppose a random sample of 152 golfers be chosen so that their mean driving distance is 229.9 yards. the population standard deviation is 41.4. use a 5% significance level.

Calculate the followings for a hypothesis test where H0:μ = 230 and H1:μ < 230 :

(a) The test statistic is _____

(b) The P-Value is _____

The final conclusion is:

Answer:

t - statistic = -0.02977977

p value = 0.488753

There is no sufficient evidence to warrant rejection of the claim that the mean driving distance is equal to 230

Explanation:

Number of samples(n) = 152

Significance level = 5%

sample standard deviation(s) = 41.4

sample Mean (x) = 229.9

H0:μ = 230 and H1:μ < 230

A.) The test statistic can be calculated using the formula;

t = (x - μ) ÷ (s/sqrt(n))

t = (229.9 - 230) ÷ (41.4/sqrt(152))

t = -0.1 ÷ 3.3579834174

t-statistic = -0.02977977

Using the p value calculator on the t-statistic value at a significance level of 0.05;

The p-value is 0.488753

With the p value sufficiently greater than 0.05, There is no sufficient evidence to warrant rejection of the claim that the mean driving distance is equal to 230

7 0
4 years ago
Mcdonald’s will recognize a gain if it generates an amount of revenue that is higher than its operating expenses. This statement
Katarina [22]

McDonald's will recognize a gain if it generates an amount of revenue that is higher than its operating expenses. This statement is False.

  • Gains are advantages produced by non-operating activity. For instance, McDonald's runs a fast food restaurant. Its main business activity is providing food to clients. Nevertheless, McDonald's engages in operations unrelated to the sale of burgers, fries, etc.
  • For instance, although not being in the real estate industry, the corporation does buy and sell land and structures that house its restaurants. McDonald's would benefit by $30,000 ($150,000 - $120,000) if it sold a piece of land for $150,000 instead of just $120,000. Gain is the term used to describe this $30,000 profit from a non-operating activity. Losses are the costs incurred as a result of non-operating operations.
  • For instance, the company would lose $20,000 ($100,000 - $120,000) if McDonald's had to sell the land it paid $120,000 for for $100,000. In conclusion, typical business activities generate revenues and expenses, while non-operational occurrences generate gains and losses.

Thus the answer is false.

To learn more about revenues and expense, refer: brainly.com/question/13738783

#SPJ4

4 0
2 years ago
Which generational age group is now forming brand relationships and represent​ tomorrow's markets?
Nuetrik [128]
The generational age group which is now forming brand relationship and represent tomorrow's market is GENERATION Z.
There are several generational age groups in the market, but the largest four are: the baby boomers, generation X, the millenia and generation Z.
The generation Z are people born after year 2000 who are mainly children and teenagers; these young consumers represent tomorrow's market.<span />
6 0
4 years ago
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