Answer:
The ending balance in the retained earnings account is $31400.
Explanation:
The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year.
The addition to retained earnings will be the Net income less dividends.
The net income for the year was = 75200 - 55000 = $20200
Addition to Retained earnings = 20200 - 12600 = $7600
Closing balance of retained earnings = 23800 + 7600 = $31400
Since john pays back the amount of $120, then, the interest is known as Simple interest.
The Simple interest is the easiest method of calculating an interest rate on a loan.
- However, the compound interest is entails interest derived on a loan based on initial principal and the accumulated interest over period of time
Hence, since john pays back the amount of $120, then, the interest is known as Simple interest because the interest is not accumulated.
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<span>When you make this decision, you are primarily using your critical thinking. You are using information you were given in the past and applying it to future events.</span>
The answer is C. stocks =)
Answer:
d) joint property ownership
Explanation:
A partnership is created by two or more individuals who combine resources, skills, and energies to start a business. The motive for starting the business is profits. The partnership deed guides the formation of a partnership business. Partners may also draft an agreement on how they will share profits, losses, or assets should be business be dissolved.
Partners contribute capital required to start and operate the business. The capital contributed may be in the form of cash, assets, or properties. The contributed capital becomes part of the business assets. The assets are registered under the partnerships' name. For Robyn and Austin, the land will be in the name of their business if they have a partnership business. But if they jointly own the land, a court may rule that they are not in a partnership business.
