Answer and Explanation:
The journal entry required to close the income summary account is given below:
Income summary Dr ($202,000 - $112,200) $89,800
To retained earnings $89,800
(Being the closing of the income summary is recorded)
The above entry should be passed for closing out the income summary account
The same is to be considered
Answer:
$2,253.35
Explanation:
external financing needed = EFN = [(total assets/total sales) x ($ Δ sales)] - [(total current liabilities/total sales) x ($ Δ sales)] - [profit margin x forecasted sales in $ x (1 - dividend payout ratio)]
total assets = $48,900
total sales = $42,700
$ Δ sales = $5,978
current liabilities = $3,650
profit margin = net income / sales = 0.129
forecasted sales = $48,678
dividends payout ratio = dividends / net income = 0.35
EFN = [($48,900/$42,700) x ($5,978)] - [($3,650/$42,700) x ($5,978)] - [0.129 x $48,678 x (1 - 0.35)]
EFN = $6,846 - $511 - $4,081.65 = $2,253.35
Answer:
Partly by the market mechanism and partly by the political process.
Explanation:
Capitalist Economy is private owned economy, with no state control, having profit maximisation objective. Socialist economy is state (govt) owned economy, having social welfare objective.
Mixed Economy is an economy co-owned by private & government sector. The goal is to achieve balance between profit maximisation & social welfare. The central problems of economy 'what, how, for whom to produce' are solved by both private & government sector. Output is allocated both on the basis of free market demand & supply mechanism, also on the basis of state/ govt (political) process. The govt (political) process regulates & monitors private role through various market interventions :- maximum quotas, price ceiling, price floor etc.
Answer: Option C
Explanation: In simple words, the goal of an MNC is to maximize the wealth of its shareholders which can be achieved only when the value of that company increases overall.
The increase in value of a subsidiary will only increase the benefit of the stakeholders of that subsidiary while earnings is considered as a temporary benefit in corporate world.
Hence from the above we can conclude that the correct option is C.
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