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Korvikt [17]
3 years ago
13

Golden Enterprises started the year with the following: Assets $107,000; Liabilities $37,000; Common Stock $67,000; Retained Ear

nings $3,000. During the year, the company earned revenue of $5,700, all of which was received in cash, and incurred expenses of $3,350, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,700 to owners. Assume no other activities occurred during the year. The amount of Golden's retained earnings at the end of the year is:
Business
1 answer:
Tema [17]3 years ago
6 0

Answer:

$3,650

Explanation:

Given that,

Assets = $107,000;

Liabilities = $37,000;

Common Stock = $67,000;

Retained Earnings = $3,000

Amount of net income:

= Revenue - Expenses

= $5,700 - $3,350

= $2,350

Closing retained earnings:

= Retained earnings at the start + Current year net income - Dividends paid

= $3,000 + $2,350 - $1,700

= $3,650

Therefore, the Golden's retained earnings at the end of the year is $3,650.

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Identify each account as asset​ (a), liability​ (l), or equity​ (e).
posledela

Identify each account as Asset (A), Liability (L), or Equity (E)

A. Accounts Payable - liability

B. Cash - asset

C. Owners Capital- Equity

D. Accounts Receivable- asset

E. Rent Expenses - equity

F. Service Revenue - equity

G. Office Supplies - asset

H. Owners Withdrawal - equity

I. Land -asset

J. Salaries Expenses -equity

<span> </span>

4 0
3 years ago
Your firm needs a computerized line-boring machine that costs $90,000 and requires $16,000 in maintenance costs for each year of
sladkih [1.3K]

Answer:

The aftertax salvage value of the machine is D) $10,134

Explanation:

Hi. first, we need to find out the book value of the machine at the selling date, that is 3 years from now, and the book value is as follows.

BookValue=90,000-90,000*0.3333-90,000*0.4444-90,000*0.1482=6,669

Since taxes are based on the profit you make by selling something, our profit is:

Profit=12,000-6,669=5,331

Therefore, our taxes are:

Taxes=5,331*0.35=1,866

So, the after tax salvage value of the machine is the money you received on the sale minus the taxes you have to pay, that is:

Salvage Value of the Machine = $12,000 - $1,866?= $10,134

That is option D)

Best of luck.

3 0
3 years ago
_____ deals with how inputs, activities, and outputs of a process are organized.
kobusy [5.1K]

Structure is concerned with how a process's inputs, actions, and outputs are arranged.

<h3>What do a process' outputs entail?</h3>
  • The outcomes of group work are known as outputs, and the group or organization values these results.
  • In order to maximize a team's performance, it "provides a mechanism to analyze how teams perform."
  • The tangible results of a process, such as reports, meetings, and flyers, are what we refer to as outputs.
  • While these items are helpful in and of themselves, they typically fall short of fulfilling the overall intent of the process.
  • Some examples of results are Information (for instance, fresh information developed as a workshop contribution and/or information from meetings).
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To learn more about outputs, refer to:

brainly.com/question/15586089

#SPJ4

4 0
1 year ago
Human resources planning relevant to organizational productivity ​
IgorC [24]

Answer:

Human resources planning is relevant to organizational productivity because it allows a company to maintain and better target the right talent for longevity. It also enables managers to better train and develop the skills needed in the workforce.

Explanation:

Human Resource planning is the foundation of a company's workforce talent. Employees are what make or break a company.

5 0
2 years ago
If real GDP is $500 billion, full employment GDP is $300 billion, and the marginal propensity to consume is 0.9, then Congress s
melomori [17]

Answer:

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

Explanation:

given data

real GDP = $500 billion

employment GDP = $300 billion

marginal propensity = 0.9

solution

we know here that Inflationary gap will be

Inflationary gap = Real GDP - Full-employment GDP

Inflationary gap = $(500 - 300) billion

Inflationary gap = $200 billion

and tax Multiplier is

Tax Multiplier  = \frac{- marginal propensity}{1 - 0.9}

Tax Multiplier  = -9

here negative sign means that decrease real GDP by $9

so tax should be increased by $1

so we can say that decrease real GDP by $200 billion

and  tax should be increased = \frac{200 billion}{9}  

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

3 0
3 years ago
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