Answer:
True
Explanation:
The net revenue or net loss would be expressed in the retained earnings account statement.
The computation of the ending retained earning balance is shown below:
The ending balance of retained earning = Opening balance of retained earnings + net income or net loss - cash dividend paid
These are the closing entries which are shown below:
Income summary A/c Dr
To Retained earning
(Being the difference is credited to retained earning)
Retained earnings A/c Dr
To Cash Dividend A/c
(Being dividend account is closed)
Answer:
The preparation is presented below:
Explanation:
The preparation of the stockholder equity section of the balance sheet is presented below:
Common stock $1,900,000
Add: Additional paid in capital $16,100,000
Total paid in capital $18,000,000
Add: Retained earnings $9,100,000
Less: Treasury stock - $902,000
Total stockholders equity $26,198,000
We simply added the additional capital and retained earning and deduct the treasury stock so that the correct value could arrive
Answer:
$6,000 LTCG
Explanation:
Calculation to determine the amount and character of the gain or loss that Monte recognizes
Using this formula
Recognized gain or loss =Amount realized -Basis
Let plug in the formula
Recognized gain or loss=(1,000 Shares*$54 per share)-(1,000shares*$48 per share)
Recognized gain or loss=$54,000-$48,000
Recognized gain or loss=$6,000 LTCG
Therefore the amount and character of the gain or loss that Monte recognizes is $6,000 LTCG reason been the any gain Amount on the sales of property that was inherited are often tend to be LTCG
Answer:
a. x3+x4<=1
Explanation:
We need a multiple choice constraint. Constraint x3+x4 <= 1 states that only one of the 2 options of landlord or contractor working on kitchen tiles can be used. (Assuming x3, x4 are binary variables)
Hence if x3 = 1, x4 is 0, and if x4=1, x3 becomes 0. Please note, there is no constraint in question specifying that kitchen tile has to be done. Hence, both x3 and x4 can be 0 depending on cost optimization, and x3+x4<=1 will still hold correct.
