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
Quando existe, dizemos que a solução de um sistema de equações lineares é o conjunto ordenado de números que satisfaz todas as e
QveST [7]
X representa o numero das suas respostas certas.
y represnta o numero das suas respostas erradas.
O total de perguntas <span>é 25, portanto
x + y = 25

Agora tratamos do dinheiro.
Come</span>ça com <span>R$ 500,00
Pelas x respostas certas, recebe 200x.
Pelas y respostas errads perde 150y.
O total de dineheiro inicial mais os ganhos menos as perdas s</span>ão iguais a
R$ 600,00, portanto
500 + 200x - 150y = 600
200x - 150y = 100
20x - 15y = 10

Temos um sistema de duas equações com duas variaveis.

<span>x + y = 25</span>
20x - 15y = 10

      15x + 15y = 375
+    20x - 15y = 10
---------------------------
       35x         = 385
           x         = 11

x + y = 25

11 + y = 25

y = 14

Resposta: Errou 14 perguntas.


5 0
3 years ago
Find the slope of the line between the points (4,1) and (8,9)
Liono4ka [1.6K]
Use the slope formula which is; 
slope= (y2 - y1)/ (x2 - x1)
slope= (9-1)/ (8-4)
Slope= (8)/(4)
Slope= 2
6 0
3 years ago
Use the equation Y= 11 - 5X to find y when x=7.
kap26 [50]
Plug in x = 7. Then use the order of operations (PEMDAS) to simplify
y = 11 - 5*x
y = 11 - 5*7 .... x has been replaced with 7 (since x = 7 is given)
y = 11 - 35
y = -24
7 0
3 years ago
Read 2 more answers
Can someone help me answer these two questions please.
mr_godi [17]

Answer:

The first one is a the second one is b

Step-by-step explanation:

3 0
2 years ago
A shoe store charges a retail price of $39 for a certain type of sneaker. This retail price is 30% more than the amount it costs
Vedmedyk [2.9K]
The answer is $31.20





Hope this helped :)
4 0
3 years ago
Other questions:
  • The graph represents data from an experiment. Complete the sentence by selecting the correct distribution type from the drop-dow
    9·2 answers
  • If m∠2=39 and m∠3=30, what is m∠1?
    13·1 answer
  • What’s the volume of
    15·2 answers
  • What number is 9/21 of 1260?
    7·1 answer
  • Someone please help me with this and show work I don’t get it I’ll give brainliest
    5·1 answer
  • What is the slope?<br>if possible can you explain?​
    8·1 answer
  • Which function is best represented by this graph?
    7·2 answers
  • How would I be able to get the step by step prosses of this and the answer of y?
    14·1 answer
  • On Old McDonald's Farm, there are 16 cows and 4 sheep in the first field. If this ratio is proportional, and there are 48 total
    5·2 answers
  • 36.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!