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serious [3.7K]
3 years ago
15

Sheridan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, ex

penses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?A. $1131500B. $600000C. $737500D. $1017500
Business
1 answer:
Margarita [4]3 years ago
3 0

Answer:

C. $737,500

Explanation:

The formula to compute the ending balance of retained earning is shown below:

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

= $659,000 + $220,000 - $141,500

= $737,500

The net income is calculated below:

= Sales revenues - expenses

$600,000 - $380,000

= $220,000

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In the economy of Talikastan in 2015, consumption was $5300, GDP was $8800, government purchases were $1800, imports were $600,
stepladder [879]

Answer:

Talikastan's exports in 2015 is $ 300.

Explanation:

This question requires us to calculate export of Talikastan. We can easily determine export by putting value in the equation use for calculating gross domestic production of a country.

GDP  = consumption + investment +  spending + (exports – imports)

8800 = 5300 + 2000 + 1800 + export - 600

Export = $ 300

3 0
3 years ago
Morris company applies overhead based on direct labor costs. For the current year, morris company estimated total overhead costs
spin [16.1K]

Answer:

At year-end, factory overhead is $21,000

Explanation:

Predetermined overhead rate = (Estimated overhead costs/Estimated direct labor costs)

Predetermined overhead rate = ($404000 / $2020000) = 20%*Direct labor costs

Hence, Applied overhead costs= (20% * $1,810,000)

Applied overhead costs=$362000.

Hence balance in factory overhead account at year end = $383,000 - $362,000  

=$21,000.

8 0
3 years ago
Which of the following is the number one method of financing for most new businesses?
Sergeeva-Olga [200]
Previous business sales
8 0
3 years ago
Read 2 more answers
Isabella needs to create a mini-presentation with her group for an advertising campaign project in her marketing class. What typ
Eva8 [605]

Answer: Social learning

Explanation:

Isabella is involved in social learning with her learning group, in preparation for her mini-presentation on an advertisement campaign.

Social learning involves a form of learning done in groups where ideas are exchanged and learning is enhanced.

5 0
3 years ago
The following book and fair values were available for Westmont Company as of March 1.
-BARSIC- [3]

Answer:

DR Inventory                                        $609,000  

     Land                                                 $1,086,750  

     Buildings                                         $2,138,250  

     Customer Relationships                $842,250  

     Goodwill                                           $965,750  

CR Accounts Payable                                           $102,000  

       Common Stock                                                       $56,400

       Additional Paid-In Capital                                     $1,353,600

        Cash                                                                       $4,130,000

Working

Common Stock = 28,200 shares * $2 = $56,400

Additional Paid in Cap = 28,200 shares * ( 50 - 2) = $1,353,600

DR Additional Paid-In Capital                            $32,400

CR Cash                                                                                $32,400

DR Professional Services Expense                   $49,800

CR Cash                                                                                $49,800

8 0
3 years ago
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