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2 years ago

The purpose of a statement of retained earnings is to: __________.

Business

1 answer:

marusya05 [52]2 years ago

4 0

Answer:

To determine the closing balance of retained earnings

Explanation:

First and foremost, retained earnings are an important part of the shareholders' equity. In a bid to ascertain the correct position of total shareholders' equity at year-end, it is important that a statement of retained earnings reconciling the opening retained with net income and dividends declared during the year is prepared.

The balance at the end of the year is the total accumulated earnings which have not been distributed to shareholders as dividends or which may be used to finance projects that increase shareholders' wealth

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Hawaiian Airlines will hire more workers as it expands its fleet. The new hirings are a welcome sign for Hawaii's economy, whic

frozen [14]

Answer:

The answer is 24,904.

Explanation:

Solution

Given that:

Now,

The unemployment rate =( unemployment/labor force) * 100

Thus,

Unemployment =( unemployment/labor force) * 100

In May 2008, unemployment = (4 * 622,600 )/100 = 2,490,400/100

=24,904

In May 2009, unemployment = ( 7 * 602,000)/100 =4,214,00/100

=42,140

So,

Number of employed people = 2009 unemployment - 2008 unemployment = 42,140 - 24,904

=17,236

Therefore the of unemployed people in may 2008 is 24,904.

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2 years ago

Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual i

White raven [17]

Answer and Explanation:

The journal entries are shown below:

1. Merchandise Inventory $1,620

To Accounts Payable $1,620

(Being the calculators purchased on account)

2. Merchandise Inventory $50

To Cash $50

(Being freight expenses paid for cash)

3. Accounts Payable $38

To Merchandise Inventory $38

(being the returned inventory is recorded)

4. Accounts Receivable $690

To Sales Revenues $690

(Being the sales is recorded)

Cost of Goods Sold $520

To Merchandise Inventory $520

(Being the cost is recorded)

5. Sales returns $45

To Accounts Receivable $45

(being the sales return is recorded)

Merchandise Inventory $34

To Cost of Goods Sold $34

(Being the cost of returned is recorded)

6. Accounts Receivable $760

To Sales Revenues $760

(being the sale is recorded)

Cost of Goods Sold $570

To Merchandise Inventory $570

(Being the cost is recorded)

4 0

2 years ago

Principal Rate Time Interest Amount $ 720.00 6.00% 5 years a. $216.00 b. $936.00 720.00 6.00 5 months a. $18.00 b. $738.00 720.0

Komok [63]

Answer:

1- $216

2- $18

3- $0.59

4- $54

5- $10.77

Explanation:

1- If the investment lasts 5 years, with an interest of 6% and a principal of $ 720,00, the interest generated at the end of said investment arises from the following calculation:

(720 x 0.06) x 5 = X

43,20 x 5 = X

216 = X

Therefore, after 5 years of investment, they will have earned $ 216 in interest.

2- If the investment lasts 5 months, with an interest of 6% and a principal of $ 720, the interest generated at the end of said investment arises from the following calculation:

(720 x 0.06) / 12) x 5 = X

43.20 / 12 x 5 = X

3.6 x 5 = X

18 = X

Therefore, after 5 months of investment, they will have earned $ 18 in interest.

3- If the investment lasts 5 days, with an interest of 6% and a principal of $ 720, the interest generated at the end of said investment arises from the following calculation:

(720 x 0.06) / 365) x 5 = X

43.20 / 365 x 5 = X

0.118 x 5 = X

0.59 = X

Therefore, after 5 days of investment, $ 0.59 in interest will have been earned.

4- If the investment lasts 15 months, with an interest of 6% and a principal of $ 720, the interest generated at the end of said investment arises from the following calculation:

(720 x 0.06) / 12) x 15 = X

43.20 / 12 x 15 = X

3.6 x 15 = X

54 = X

Therefore, after 15 months of investment, they will have earned $ 54 in interest.

5- If the investment lasts 91 days, with an interest of 6% and a principal of $ 720, the interest generated at the end of said investment arises from the following calculation:

(720 x 0.06) / 365) x 91 = X

43.20 / 365 x 91 = X

0.118 x 91 = X

10.77 = X

Therefore, after 91 days of investment, you will have earned $ 10.77 in interest.

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2 years ago

Describe at least 3 nonprice competition strategies a company could use to convince customers that its product is better than ot

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2 years ago

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murzikaleks [220]

One the concepts that economists believe in a classical economy are that "a change in money supply can affect GDP." To add up, a traditional economy mainly bases on original customs and traditions in their economic system, wherein among the common examples of these are rural farms.

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2 years ago