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hram777 [196]
3 years ago
7

At the beginning of the year, a company's balance sheet reported the following balances: Total Assets = $175,000; Total Liabilit

ies = $24,750; Total Paid-in capital of $57,750; and Retained earnings = $92,500. During the year, the company reported revenues of $50,500 and expenses of $33,000. In addition, dividends for the year totaled $22,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be:
Business
1 answer:
Ne4ueva [31]3 years ago
7 0

Answer:

$88,000

Explanation:

The computation of the ending balance of the retained earning balance is shown below:

As we know that

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

where,

net income is

= Revenues - expenses

= $50,500 - $33,000

= $17,500

And, the other items values would remain the same

So, the ending balance is

= $92,500 + $17,500 - $22,000

= $88,000

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Gina induces hugh to enter into a contract for the purchase of a condominium about which gina knowingly misrepresents a number o
marysya [2.9K]

In a condition where Gina induces Hugh to enter into a contract for the purchase of a condominium about which Gina knowingly misrepresents a number of material features, Hugh can rescind from entering into the contract on the basis of fraud when he discovers about the truth of Gina's wrongful intentions.

<h3>What is the significance of a fraud?</h3>

A fraud can be referred to or considered as a situation that arises when either of the parties to a contract is unaware of the wrongful intentions of the other party at the time of entering into the contract.

Therefore, the significance regarding a fraud has been aforementioned.

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4 0
1 year ago
Seventy farmers in Morgan County joined together to hire Rusty to spray their crops one time (with his cropduster plane). These
Triss [41]

Answer:

d. joint venture.

Explanation:

A cooperative, business trust or a franchise are generally stable businesses that are formed to operate in the long run.

On the other hand, a joint venture occurs when different entities get together to do business and that can be a one time event only. In this case, Rusty was hired for spraying the fields one time only (one time event).

3 0
2 years ago
What are the goals when a government uses expansionary monetary policy?
Ainat [17]

Answer:

stimulating economic growth

Explanation:

Expansionary monetary policies are the action by the Fed that aims at stimulating economic growth.  They aim at increasing the money supply in the economy. Examples of expansionary monetary policies are open market purchases, reduction of the discount rate, and reduction in the reserve requirement ratio.

Expansionary monetary policies stimulate economic growth by encouraging investments and consumption spending. When the discount rate is reduced, interest rates reduce automatically. Banks will loan out more when they a lot of money in their custody. Expansionary monetary policies are applied when there is a slowdown in economic growth.

5 0
2 years ago
The simplicity of the metric system lies in the relationship of the expression of quantity (how much) based on the number ? .
Westkost [7]
The metric system is based on the number 10 so that in linear measurement, there is a mm, a cm a metre and a kilometer such that10mm = 1cm and 100 cm = 1 metre and 1000 metres = 1 kilometre. In volume, there is the ml and the litre such that 1000ml=1litre and with grams and kilograms, 1000 grams = 1 kilogram. 
7 0
2 years ago
UP Forklifts sells two products, large forklifts and small forklifts. A large forklift sells for $80,000 per unit with variable
Pepsi [2]

Answer:

The break-even point in total units is 70

Explanation:

Particulars                          Large Fork Lift        Small Fork Lift        Total

Selling price Per Unit              $80,000                  $60,000

Less: Variable Cost Per Unit $24,000                   $11,000  

Contribution per unit               $56,000                  $49,000

Sales Mix                                       1                                 4

Total Contribution per            $56,000                 $196,000    $252,000

sales mix  

Contribution per unit of sales mix ($252000/5)                         $50,400

Fixed Costs                                                                                    $3,528,000

Break-even point in total units ($3,528,000 / 50,400)                      70

6 0
3 years ago
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