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kicyunya [14]
2 years ago
11

The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entri

es are posted, what will be the balance in the Retained earnings account?
a) Total revenues $ 125,000
b) Total expenses 60,000
c) Retained earnings 80,000
d) Dividends 15,000
Business
1 answer:
Mama L [17]2 years ago
7 0

Answer:

The balance of retained earning is $130,000.

Explanation:

At the year end an adjusted trail balance is prepared, in which all the temporary accounts are closed and their balances are transferred to the permanent accounts. The adjusted trial balance must verify that debit and credit sides total is equal.

All the revenue and Expenses accounts are closed in Income summary account from where the net balance is transferred to the retained earning account.

Ending Balance of retained earning = Opening balance + Revenue - Expenses - Dividend

Ending Balance of retained earning = $80,000 + $125,000 - $60,000 - $15,000

Ending Balance of retained earning = $130,000

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When the price at which the quantity of a product willing to be purchased by customers and the quantity of product willing to be
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When the price at which the quantity of a product willing to be purchased by customers and the quantity of product willing to be made by a producer are equal, this is known as the equilibrium price. Equilibrium price is the price set by a market in which the amount of products that are supplied is equal to the amount of products that are demanded.
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3 years ago
Your client, Bo Regard, holds a complete portfolio that consists of a portfolio of risky assets (P) and T-Bills. The information
kondaur [170]

Answer:

The expected return on Bo's complete portfolio will be "10.32%".

Explanation:

The given question is incomplete. Please find attachment of the complete question.

According to the question, the given values are:

Port's expected return,

R_p=12 \ percent

T-bill's expected return,

R_t=3.6 \ percent

Port's weight,

W_p=80 \ percent \ i.e.,\ 0.80

T-bill's weight,

W_t=20 \ percent \ i.e., \ 0.20

Now,

The Bo's complete portfolio's expected return will be:

⇒  W_p\times R_p+W_t\times R_t

On substituting the given values, we get

⇒  0.80\times 12 \ percent+0.20\times 3.6 \ percent

⇒  10.32 \ percent

Note: percent = %

7 0
3 years ago
On January 1, 2021, Red Flash Photography had the following balances: Cash, $18,000; Supplies, $8,600; Land, $66,000; Deferred R
crimeas [40]
29 25 26 or even 55 maybe 27 28
5 0
3 years ago
Marc, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bonds
Nutka1998 [239]

Answer:

The answer is: Marc´s effective tax rate is 18.29% equivalent to $18,289.50

Explanation:

Marc is a single filer, so his taxable income of $100,000 falls under the fourth tax bracket ($82,501 to $157,500) with a tax rate of 24%. To calculate Marc´s effective tax rate:

Taxes due = $14,089.50 + [24% x ($100,000 - $82,500)]

                  = $14,089.50 + (24% x $17,500)

                  = $14,089.50 + $4,200

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So Marc´s effective tax rate (ETR) = ($18,289.50 / $100,000) x 100 = 18.29%

Note: The $10,000 Marc earned in interest from municipal bonds (City of Birmingham bonds) are tax exempt, so they are not included in these calculations.

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3 years ago
-Select- risk is the risk of a decline in a bond's value due to an increase in interest rates. This risk is higher on bonds that
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Answer:

Find answers below.

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The bonds which would have the largest duration is a 10 year - zero coupon bond.

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3 years ago
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