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klio [65]
3 years ago
8

The Hastco Company had the following balances in their stockholders' equity accounts as of December 31, 2010: Paid-in Capital: $

53,000 Retained Earnings: $31,000 During the year ended December 31, 2010, the Hastco Company generated $36,000 in net income, and declared and paid $16,000 in Dividends. The ending balance in the retained earnings account at December 31, 2009 was:
Business
1 answer:
s344n2d4d5 [400]3 years ago
4 0

Answer:

The ending balance in the retained earnings account on December 31, 2009 was $11,000

Explanation:

For computing the retained earnings balance on December 31, 2009, the following equation should be used which is shown below:

= Ending retained earnings + dividend paid - net income

= $31,000 + $16,000 - $36,000

= $11,000

Since we have to find out the beginning retained earning so we add the dividend amount and deduct the net income amount

If we find out the ending balance of December 31, 2010, than we add the net income and deduct the dividend amount.

Hence, the ending balance in the retained earnings account on December 31, 2009, was $11,000

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_________ is a condition in which the average level of prices is actually falling.
jeyben [28]

Answer:

<em>Deflation</em>

Explanation:

<em>Deflation is the overall decrease in products and services prices when  the rate of inflation drops below 0%</em>. it naturally occurs when an  economy's money supply is fixed.  

The buying power of currency and salaries in moments of deflation is greater  than they would have been.

This is different but comparable to <em>price deflation,  which is a general price level reduction.</em>

6 0
3 years ago
Market equilibrium is defined as the point where _______________ . (Select all that apply.)
Mrrafil [7]
Quantity supplied equals to quantity demanded.
8 0
3 years ago
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A company has a selling price of $1,800 each for its printers. Each printer has a 2 year warranty that covers replacement of def
Afina-wow [57]

Answer:

$90,000

Explanation:

Data given in the question

Selling price = $1,800

Estimated percentage = 2%

Average cost = $150

Number of printers sold = 30,000

Under the warranty, the printer under service = 400

So by considering the above information, the warranty expense is

= Number of printers sold × estimated percentage × average cost per printer

= 30,000 × 2% × $150

= $90,000

8 0
3 years ago
Production-based accounting is used to estimate gdp by​ ____________.
aliina [53]
B.
adding up the incomes received by all the resources that contributed to production.

Or

D.
all of the above.
6 0
3 years ago
The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summ
Fynjy0 [20]

Answer:

d) It is a use of cash, and will be shown in the investing section as a subtraction.

Explanation:

The plant improvements will result in cash outflow and is to be considered as an investing activity and not financing activity. It is not a source of cash. So, this option is incorrect.

There will be cash outflows when a company makes plant improvements. It is reported under the investing activity and not under financing activity. So, this option is incorrect.

There will be cash usage when their plant improvements. It is not a source of cash which does not result in cash inflows. So, this option is incorrect.

6 0
3 years ago
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