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alina1380 [7]
4 years ago
12

At September 1, 2012, Baxter Inc. reported Retained Earnings of $272,000. During the month, Baxter generated revenues of $40,000

, incurred expenses of $24,000, purchased equipment for $10,000 and paid dividends of $4,000. What is the balance in Retained Earnings at September 30, 2012
Business
1 answer:
LiRa [457]4 years ago
6 0

Answer:

$284,000

Explanation:

Movements in the retained earnings account are as a result of the payment of dividend and the addition of the income or loss for the year.

Given that

Baxter generated revenues = $40,000

incurred expenses = $24,000

purchased equipment = $10,000 and

paid dividends = $4,000

Net income/(loss) = $40,000 - $24,000

= $16,000

Retained Earnings at September 30, 2012

= $272,000 + $16,000 - $4,000

= $284,000

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Taxes are too high. In some circumstances,
MissTica

Answer:

The answer is: A) If taxes are lowered, government revenues actually increase.

Explanation:

For example, when consumers have to pay less money in taxes, it means they will have more money to spend. Private consumption is the most important component of the GDP. When money starts to flow, a virtuous circle of growth starts a chain of events that reinforces economic growth through a feedback loop. When the economic growth rate increases, government revenue will also increase. The virtuous circle of growth is the most important pillar of the Keynesian economic theory.

The same applies to businesses, when they pay less taxes, they can invest more in new businesses which in turn increase economic growth, which results in higher revenue for the government.

Of course this theory applies to certain small tax reductions, and under certain specific circumstances.

7 0
3 years ago
Movie Makers is a legal entity whose assets and liabilities are separate from its owners. It can receive, own, and transfer prop
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Answer:

Corporation

Explanation:

The corporation is a legal business entity that is separated from its owners with respect to the assets and liabilities.  

In this business entity, they have the right to received, owned or even transferred the property who are entered into contracts with the other legal entities or with the individuals

In addition, this business entity is to be sued and sued to the individual or other business entities depending upon which entity or individual it is dealing with in the court.

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3 years ago
Describe four signs that help indicate when ABC systems are likely to provide the most benefits. ​(Select the four statements th
iris [78.8K]

Answer:

C. Significant amounts of indirect costs are allocated using only one or two cost pools.

D. All or most indirect costs are identified as output​ unit-level costs.

E. Products make diverse demands on resources because of differences in​ volume, process​ steps, batch​ size, or complexity.

F. Products that a company is well suited to make and sell show small​ profits, whereas products that a company is less suited to produce and sell show large profits.

Explanation:

ABC (activity based costs) method focuses on individual activities as the main cost objects. After it determines the cost of individual activities, it uses them as the basis for assigning costs to products and services. ABC method allocates overhead costs based on the main cost objects.

7 0
3 years ago
The shareholders’ equity for the Fiesta Foods, Inc. on December 31, 2010 follows: 12% Preference share capital, P100 par, 20,000
fiasKO [112]

Answer:

26.65

Explanation:

The computation of the book value of an ordinary share is shown below

But before that the following calculations to be done

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= Total shareholder equity - dividend paid to preference shareholders - redemption of preference shares

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= 8,250,000 -  720,000 - 2,200,000

= 5,330,000

And, the number of shares is 200,000

So, the book value of the ordinary share is

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6 0
3 years ago
Logistics Solutions provides order fulfillment services for dot merchants. The company maintains warehouses that stock items car
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Part 1.1  - Variable overhead cost incurred to fill the order for the 120,000 items is $7,800.

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Part 3 - Difference between standard and actual variable overhead cost is $440.

<u>Explanation:</u>

It is given that the number of order is 120,000 items and calculated standard variable overhead cost per order for one item is $0.065. Variable overhead cost incurred to fill the order for the 120,000 items can be calculated by multiplying the number of order of the items with the calculated standard variable overhead cost per order for one item. Hence, the variable overhead cost incurred to fill the order for the 120,000 items is $7,800.

It is given that the actual variable overhead cost is $7,360 and calculated standard variable overhead cost is $7,800. Difference in standard and actual variable overhead cost can be calculated by deducting the actual variable overhead cost from the standard variable overhead cost. Hence, the difference between standard and actual variable overhead cost is $440.

Calculated variable overhead rate variance is $115 favorable and the variable overhead efficiency variance is $325 favorable. Difference between standard and actual variable overhead cost is the total of variable overhead rate variance and variable overhead efficiency variance. Hence, the difference between standard and actual variable overhead cost is $440.

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3 years ago
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