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Slav-nsk [51]
3 years ago
11

Turquoise and Topaz Sisters had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of

retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
A. $8,000

B. $7,000

C. $5,000

D. $10,000
Business
1 answer:
SpyIntel [72]3 years ago
3 0
$5,000 because 10,000-2,000=8,000 is left then another 2,000 taken out would leave you with 6,000 then 1,000 taken would leave you with $5,000
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LO 6.3A company calculated the predetermined overhead based on an estimated overhead of $70,000, and the activity for the cost d
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Answer:

$68,600

Explanation:

An predetermined overhead of $70,000 was estimated for an activity of 2,500 hours. The actual overhead assigned to the products is given by multiplying the fraction of the total 2,500 hours of activity utilized by the products by the predetermined overhead:

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3 years ago
Engberg Company installs lawn sod in home yards. The company’s most recent monthly contribution format income statement follows:
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Answer:

See answer below

Explanation:

1. Degree of operating leverage

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Net operating income $52,600

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= 1.44

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3 years ago
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5 0
2 years ago
Read 2 more answers
For the most recent year, Camargo, Inc., had sales of $546,000, cost of goods sold of $244,410, depreciation expense of $61,900,
Dovator [93]

Answer:

Explanation:

As we know that time interest earned ratio = Income before interest and taxes / interest expense.

Sales                                                                                           = 546000

less: cost of goods sold                                                            =  (<u>244410</u>)

            Gross profit                                                                       301590

Less: <u>expenses</u>

          Depreciation expense                                                      =( <u>61900   </u>)    

         Profit before interest and taxes                                         239690

Less: tax

      (239690 * 23%)                                                                =   (<u>55128</u>)            

                         Profit                                                                   184562

Profit - Retained earning Addition  = Interest

      184562 - 74300 = 110262.

Interest earned ratio = 239690 / 110262 = 2.17 times  

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3 years ago
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