1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mazyrski [523]
3 years ago
11

Partial adjusted trial balance for Monty Corp. at December 31, 2017, includes the following accounts: Retained Earnings $ 16,900

, Dividends $ 4,100, Service Revenue $35,700, Salaries and Wages Expense $ 13,100, Insurance Expense $ 1,960, Rent Expense $ 3,960, Supplies Expense $ 1,400, and Depreciation Expense $ 880. The balance in Retained Earnings is the balance as of January 1.
Prepare a retained earnings statement for the year assuming net income is $ 10,400. (List items that increase retained earnings first.)
Business
1 answer:
Ymorist [56]3 years ago
5 0

Answer:

Explanation:

                                                $                               $

Service Revenue                                                 35,700

Less :

Salaries & wages                13,100

Insurance expenses            1,960

Rent expenses                     3960

Supplies Expense                1400

Depreciation Expense        <u>  880 </u>

                                                                             <u> 21,300</u>

Net Income                                                            14,400

Retained Earnings Statement

Retained Earnings at the beginning                 16,900

Net Income                                                        <u> 14,400 </u>

                                                                            31,300

Dividends paid                                                    <u>(4100)</u>

Retained earnings at the end                           <u> 27,200</u>

You might be interested in
Health centers established in the 1960s were
GenaCL600 [577]

Answer:

I believe the answer is B

5 0
4 years ago
Mark Johnson saves a fixed percentage of his salary at the end of each year. This year he saved $2,000. For each of the next 5 y
IrinaVladis [17]

Answer:

Mark will have $19,878.70 at the end of six years

Explanation:

Use the following formula to calculate the present value of cash flows

PV =  A [\frac{1 - (\frac{1+g}{1+r})^n }{r - g} ]

Where

A = Investment = $2,000

g = growth rate = 4%

r = 15%

n = 6

Placing values in the formula

PV = 2,000 [\frac{1 - (\frac{1+0.06}{1+0.15})^6 }{0.15 - 0.06} ]

PV = $8,594.11

Now calculate the future value in order to determine the amount Mark will have at the ned of six years

Future value =  PV ( 1 + r )^n

Where

PV = $8,594.11

r = 15%

n = 6

Placing values in the formula

Future value =  8,594.11 ( 1 + 0.15 )^6

Future value =  $19,878.70

8 0
3 years ago
Olaoaoaosoodjsdujbcjhdhdjshdskdj dhehehkb
7nadin3 [17]
I speak this ididudjejsjs eisidjxnzjsjs ajsj sisixhdjdjejdjdjs didisjdjjsksksx
8 0
3 years ago
The cost of land would not include: Multiple Choice Purchase price. Cost of parking lot lighting. Costs of removing existing str
Annette [7]

The cost of land would not include option(a) i.e, the Cost of parking lot lighting.

<h3>What is meant by the cost of land?</h3>

The asset valuation method that is used to value land that appears on a company's balance sheet is known by the financial accounting term cost of land. The price of the land would cover all costs incurred in purchasing the property as well as those incurred in getting it ready for usage by the business.

The price of the land might be calculated by adding the purchase price, the local government's appraisal of the property, deducting the cost of any existing structures, and title insurance premiums.

All expenses incurred to prepare the improvements for use are included in the cost of land improvements. For instance, the cost of the parking lot is just the agreed-upon fee when two businesses enter into a contract to build one on the other's property.

To know more about cost of land refer to: brainly.com/question/26383713

#SPJ4

6 0
3 years ago
The price of a dozen roses in the United States is about $30. If $0.559 U.S. dollars can purchase 1.00 Turkish Lira, how much do
SIZIF [17.4K]

Answer:

$53.67

Explanation:

The computation of the rose cost in Turkey is shown below:

= (Price of a dozen roses in the United States × U.S dollars purchase value) ÷ (U.S dollars value)

= ($30 × 1) ÷ ($0559)

= $53.67

We simply multiply the price of a dozen rose with the U.S dollars purchase value and then divide it by the U.S dollars value so that the rose cost can be computed in a correct value.

3 0
3 years ago
Other questions:
  • Lauer Corporation has provided the following information about one of its laptop computers:DateTransactionNumberof UnitsCost per
    8·1 answer
  • Store Travel Time Each Way Price of a Dress
    13·1 answer
  • FrameIt manufactures picture frames. Below are costs from FrameIt’s June records. What is FrameIt’s total manufacturing overhead
    8·1 answer
  • Suppose your company needs $18 million to build a new assembly line. Your target debt-equity ratio is .7. The flotation cost for
    15·1 answer
  • A monopolistically competitive market has characteristics that are similar to a. a monopoly only. b. a competitive firm only. c.
    13·1 answer
  • Explain how this external force is currently influencing the internal functional area(s) of the organization. For example, expla
    8·1 answer
  • The following data pertain to Ronaldo Enterprises:
    8·1 answer
  • During the final years of World War II in Europe, American and British bombing raids supported invasions of Italy. destroyed Ger
    11·1 answer
  • Which is the best description of authorized shares?
    6·1 answer
  • Dollar diplomacy examples
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!