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notsponge [240]
3 years ago
14

Purple Dog Pet Supply Inc. (PDPS) released its annual results and financial statements. Eleanor is reading the summary in the bu

siness pages of today’s paper. In its annual report this year PDPS reported a net income of $180,000. Last year, the company reported a retained earnings balance of $510,000, whereas this year it increased to $600,000. How much was paid out in dividends this year?
Business
1 answer:
Effectus [21]3 years ago
6 0

Answer:

$90,000

Explanation:

Purple dog pet supply released its annual results and financial statement

It reported a net income of $180,000 this year

Last year the company reported a retained earnings of $510,000

This year it increased to $600,000

Therefore the amount that was paid out in dividend this year can be calculated as follows

= $180,000 + $510,000-($600,000)

= $690,000-$600,000

= $90,000

Hence the amount that was paid out in dividend this year is $90,000

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Explanation:

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2 years ago
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The entry that Lane will make to record the receipt of cash will include a credit to the: a. Accounts Receivable.

<h3>What is Accounts Receivable?</h3>

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Based on the information given the appropriate journal entry to record the transactions is:

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Inconclusion the entry that Lane will make to record the receipt of cash will include a credit to the: a. Accounts Receivable.

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7 0
1 year ago
Below are approximate amounts related to retained earnings reported by five companies in previous years. Coca-Cola reports an in
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Answer and Explanation:

The computation is shown below:

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2. Amount of net income of PepsiCo is

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= $0 billion

4. Amount of ending retained earnings of Sirius XM Satellite is

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= -$1.6 billion - $1 billion - $0

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= $1.56 billlion - $0.43 billion + $0.06 billion

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4 0
3 years ago
During​ December, LafertyLaferty designed a landscape plan and the client prepaid $ 8 comma 000$8,000. LafertyLaferty recorded t
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Answer:

The answer is:

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Cr Service Revenue 4,800

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2 years ago
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