Answer:
1. WINFREY TOWING SERVICE
Statement of Comprehensive Income
$
Service revenue 10,800
Rent expense (550)
Salaries expense (1,900)
Dividends paid <u>(4,000)</u>
Net income <u> 4,350</u>
Statement of Retained Earnings
$
Retained earnings b/f 3,900
Add: Net income 4,350
Retained earnings c/f 8,250
2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.
Explanation:
In this question, we need to obtain the net income of the company, which is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.
Answer:
C
Explanation:
The economists would disagree with this policy because the opportunity cost of zero pollution is much higher than its benefit. The industries involved may have to stop their industrial activities out-rightly or temporarily until they come up with other ways of production which may bring unemployment, reduction in tax paid to government among others.
Answer:
professional and private
Explanation:
Reputation can be regarded as an opinion or believe about something, individual or organization, it is the judgement or the information known by people about an individual or organization. When this reputation is been accessible by a specific kind of people i.e not by the general public, it is reffered to as professional and private reputation.
It should be noted that professional and private reputation is affected by material a person posts to an online discussion forum that is accessed only by people in his or her company.
Answer: $92,880
Explanation:
The Gross Profit can be calculated by simply removing the cost from the sales amount.
It is stated that the additional processing will yield 10,000 bags of Premium Green and 3,600 bags of Green Deluxe, which can be sold for $7.55 and $5.55 per bag.
Sales figure is therefore,
= (10,000 * 7.55) + (3,600 * 5.55)
= 75,500 + 19,980
= $95,480
Subtracting the cost to get,
= 95,480 - 2,600
= $92,880
The total gross profit would is $92,880.
Answer:
Yes Gordon can sue Floors n' Mores for the settlement of the contract keeping in mind that Gordon has made partial completion of the contract. Full payment would be determined based on the completion of the total work in line withe the plans submitted when the contract was signed
Explanation:
In order to understand the scenario in case if Gordon wants to sue Floors n Mores they can only be compensated for the amount of project completion in line to the expectations that matches to Floors n More.
For Example if 75% of the work is in line with the expectation of Floors N More then Gordon should be paid total amount payable multiply by 75%.
Usually in such cases if the contract is fulfilled to certain extent it is preferred to close the contract based on the %age of completion because major reconstruction, buying of fixtures and furniture was executed. Hence major risks and rewards were transferred to Floors n Mores.
