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
Sergeu [11.5K]
3 years ago
10

Maxwell Flooring started the year with total assets of $160,000 and total liabilities of $75,000. During the year, the business

recorded $250,000 in revenues, $100,000 in expenses, and dividends of $30,000. The net income reported by Maxwell Flooring for the year was A : $150,000. B : $85,000. C : $125,000. D : $90,000.
Mathematics
1 answer:
juin [17]3 years ago
5 0

Answer:

(A) $150,000

Step-by-step explanation:

As per the given data of the question,

Maxwell Flooring started the year with

Total Assets = $160,000

Total liabilities = $75,000

Revenues = $250,000

Expenses = $100,000

Dividends = $30,000

Stockholders' equity at the end of the year was given by formula:

SE = (Total Assets - Total Liabilities) + (Revenues - Expenses) - Dividends

Therefore,

SE = (Total Assets - Total Liabilities) + (Revenues - Expenses) - Dividends

SE = ($160,000 - $75,000) + ($250,000 - $100,000) - $30,000

SE = $205000

Now,

Stockholders' equity at the end of the year

=  Net income - Dividend + Assets - Liabilities

$205000  = Net income - $30,000 + $160,000- $75,000

∴ Net income = $205,000 - $55000 = $150,000

Hence,The net income reported by Maxwell Flooring for the year = $150,000  

You might be interested in
Clara baked a sheet cake with a length of 0.5 meters. She covered the cake in small 1 frosting polka dots that are the length of
almond37 [142]

Answer:

kkuguftfhbnkmom ugvtvtv uvbuub

4 0
2 years ago
A dog sled race is 25 miles long.The equation 5/8 k=25 can be used to estimate the race’s length k in kilometers. Approximately
EastWind [94]
The distance to be covered in the race is 25 miles
average speed of the team is 30 km/h
30 km/m in miles/hour will be:
1 mile=0.621371 km
thus
30 km/h=(30×0.621371) miles/hour
=18.64113 miles/hour
time taken to complete 25 miles will be:
time=distance/speed
=25/18.64113
=1.3411 hours
4 0
3 years ago
HURRY WILL MARK AS BRAINLIEST IF CORRECT
Ray Of Light [21]

Answer:

The nuber of cells double

Step-by-step explanation:

The cyroplasmic or cytokinesis is the divison of cells at the end of mitosis bringing the seperation to become 2 daughter cells.

5 0
2 years ago
Carla is saving money for a trip. She already has some money in her savings account and will add the same amount to her account
Bingel [31]

Answer:

280=8x + 130

Step-by-step explanation:

Im pretty sure this is correct it has been a while since I did this but y is the total amount so y is 280. M is the slope so it would be how often the amount changes so m is 8. x is unknown and what needs to be solved for. b is the y intercept which is just the initial amount of 130.

4 0
3 years ago
The data set 80, 84, 79, 44, 87, 73, 89, 90, 82, 89, 93, 97, 77, and 71 is graphed below. A graph shows the horizontal axis labe
guajiro [1.7K]

Based on the information given, it can be deduced that the distribution is a skewed distribution and the best choice is a median.

<h3>How to calculate the mean.</h3>

The mean will be:

= (80 + 84 + 79 + 44 + 87 + 73 + 89 + 90 + 82 + 89 + 93 + 97 + 77 + 71) / 14

= 1135/14

= 81.07

The median will be the middle number after the numbers are arranged in ascending order. This will be:

44, 71, 73, 77, 79, 80, 82, 84, 87, 89, 89, 90, 93, and 97. Therefore, the median will be:

= (82 + 84) / 2

= 83

Lastly, the measure of center that is the best choice for this data set is median.

Learn more about median on:

brainly.com/question/14805451

8 0
2 years ago
Read 2 more answers
Other questions:
  • There are six poles on a side of a 1 km 200 m long straight road such that there is a pole at the starting and end points of the
    6·1 answer
  • 7x^2-2x+1-(9x^2+2x-1)
    5·2 answers
  • Simone and Nang read a total of 23 books over the summer.
    10·1 answer
  • What is the equation of the following graph in vertex form?
    13·1 answer
  • Which statement correctly describe the data shown in the scatter plot?
    6·2 answers
  • 13points!!!!! 13 POINTS!!!! 13POINTS!!!
    12·1 answer
  • Examine the given run chart or control chart and determine whether the process is within statistical control. If it is not, iden
    11·1 answer
  • It takes Asher 12 minutes to ride a roller coaster four times. Write an equation to represent a proportional relationship betwee
    13·1 answer
  • A taxi service charges an initial fee plus $1.80
    15·2 answers
  • Mr. Jenkins was arranging chairs for a school awards assembly. Each row contained 15 chairs. If there were 21 rows. how many cha
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!