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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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Gorton's sells Gorton's Fish Sticks, Gorton's Fish Fillets, and Gorton Grilled Fish. This is an example of
dimaraw [331]

Answer:

The correct answer is letter "A": family branding.

Explanation:

Family branding is a strategy entrepreneurs follow by naming the same or partly equal different businesses with diverse markets to take advantage of the reputation one of those businesses have obtained. The naming is legal and in most cases represents a partnership between those businesses or a license given by the main company to allow others to use part of the same name in exchange for a fee.

6 0
3 years ago
Suppose there is a simultaneous increase in the demand for rice and increase in the supply of rice. Which of the following will
patriot [66]

Answer:

C) The market learing price may rise, fall, or stay the same, but the equilibrium quantity will rise. 

Explanation:

An increase in demand would lead to an increase in demand and price.

An increase in supply would lead to an increase in supply and a fall in price.

The combined effect would lead to an increase in equilibrium quantity but the effect on equilibrium price would be indeterminate.

I hope my answer helps you

6 0
3 years ago
A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run ave
kobusy [5.1K]

Answer:

Natural monopoly

Explanation:

A natural monopoly refers to a type of monopoly that occurs when the start-up costs or infrastructural costs are high or economies of scale in an industry are very powerful in such a way that only the largest supplier in the industry which is usually the first supplier in the market has a great advantage over potential competitors and therefore becomes the only supplier in the industry.

On the long-run average cost (LRAC) curve, a natural monopoly exists when the quantity demanded is less than the minimum quantity that is required to be at the bottom of the LRAC curve.

Therefore, a <u>natural monopoly</u> exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.

6 0
3 years ago
What are two examples of Secondary or non-core activities?
mylen [45]
One example is “engagement” consider to be “business activities”
4 0
3 years ago
Because of global competition and advances in new information technology, tasks and responsibilities for managers have
Triss [41]

Answer:

"Become more intense " is the right answer.

Explanation:

  • Global or Economic competition seems to be on the market for several years with environmental regulations being reduced and that many markets liberalized.
  • A commonly held view of intensified global competition is its impact on individuals' tendency to find employment or maintain their present employment.

So that the above is the correct approach.

4 0
3 years ago
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