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serious [3.7K]
2 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]2 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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The next guesses of the clerk should be less of red shells and more of white shells.

<h3><u>Decision about less of white and more red shells</u>:</h3>

Given that,

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The clerk guesses that the $4.96 for 4 red shells and 4 white shells is greater than the actual purchase.

Therefore,

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2 years ago
Why would a company’s manager be concerned about the quantity of its purchases returns if its suppliers allow unlimited returns?
Veronika [31]

The company incurs costs in receiving, inspecting, identifying, and returning the merchandise. More returns create more expenses.

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COGS counts as a business expense and affects how much profit a company makes on its products.

What are the depreciation expense?

Depreciation expense is that portion of a fixed asset that has been considered consumed in the current period.

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1 year ago
Giorgio Italian Market bought $11,100 worth of merchandise from Food Suppliers and signed a 120-day, 9% promissory note for the
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Explanation:

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Notes receivable A/c Dr $11,100

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Since the merchandise transaction is done through note receivable so we debited the note receivable account and the transaction is of sale type so the sales account is credited. Both the transactions are recorded at $11,100

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3 years ago
Edward Dorsey is a part-time employee, and during the biweekly pay period he earned $395. In addition, he is being paid a bonus
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Answer

The answer and procedures of the exercise are attached in the following image.  

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3 years ago
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