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Juli2301 [7.4K]
3 years ago
11

The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $202,000. During 2016, the company had revenues

of $402,000 and expenses of $351,000, and the company declared and paid dividends of $11,200. Retained earnings on the balance sheet as of December 31, 2016 will be:
Business
1 answer:
vivado [14]3 years ago
6 0

Answer:

The answer is $241,800

Explanation:

Step 1:

We need to find Net income.

Net income = Revenue - expense

$402,000 - $351,000

Net income is $51,000

Step 2.

Closing/ending retained earnings = beginning/starting retained earnings plus net income minus dividend.

= $202,000 + $51,000 - $11,200

=$241,800

Therefore, Retained earnings on the balance sheet as of December 31, 2016 is $241,800

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B because it the right answer there
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3 years ago
At the start of its fiscal year, a company anticipated producing 300,000 units throughout the year. The annual budgeted manufact
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Answer:

The correct answer to the following question is $36,000.

Explanation:

Given information  -

Units anticipated to be produced - 300,000 units

Variable cost - $150,000

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Ending inventory  - 7000 units

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Now under the absorption costing, rate of fixed overhead cost per unit -

Fixed cost / Number of units produced

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= $2

In April ( under absorption costing ), the amount of fixed manufacturing overhead cost that was still embedded in ending inventory but were not expense -  

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So when we calculate the operating cost under variable costing this fixed overhead cost wold be subtracted from total income -

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6 0
3 years ago
Gentry Inc. purchased 90% of Gaspard Farms on January 5, 2019. During 2019, Gentry sold Gaspard Farms for $650,000 goods which h
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Answer:

$5572500

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consolidated cost of goods sold for 2020 would be:

consolidated cost of goods sold = ( total of goods sold by bought company ) - ( intra-entity transfer ) + ( ending unrealized gross profit ) - ( beginning unrealized gross profit )

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3 0
3 years ago
Sally is planning to sell her company and she prefers to obtain immediate liquidity, and the value of consideration to be fixed.
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Answer: A cash sale

                                           

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Hence Sally should sell her company in cash sale as it will result in inflow of cash which will create liquidity and also the consideration will be certain with short timely payments.

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2 years ago
What is a product's life cycle?
valentina_108 [34]
Or think about it it’s easy
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3 years ago
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