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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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Oksi-84 [34.3K]

Answer:

$2,450 ; $1,430

Explanation:

The computation of the ending inventory using the periodic inventory system is shown below:

Under FIFO method

= 245 units × $10

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We take the last units in this FIFO method

Under the LIFO method

= 205 units × $6 + 40 units × $5

= $1,230 + $200

= $1,430

We take the first units in this LIFO method

Hence, the closing inventory is come

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3 years ago
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The answer is<u> "variable interval.</u>


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5 0
3 years ago
Two firms are ordered by the federal government to reduce their pollution levels.
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Answer:

The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.I hope my explanation will help you in understanding this particular question.

Explanation:

8 0
3 years ago
Said grab .'s competitors
love history [14]

Answer:

huh

Explanation:

grabs competitors?

7 0
3 years ago
A nurse, police office, and teacher would all have _____ interests. a. scientific b. social c. office operations d. craft Please
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Answer:

B

Explanation:

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2 years ago
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