Answer:
The correct answer is: $46,875.
Explanation:
Retained Earnings are the portion of the company's net earnings that it does not payout to shareholders as dividends. The company keeps this money, reinvest it in the business, or uses it to pay out a portion of its debt. To see how much of its earnings a company has retained look at the Balance Sheet under shareholder's equity. Retained earnings are calculated using the following formula:
RE = BP + Net Income (or Loss) − C − S
Where:
RE = Retained Earnings
BP= Beginning Period RE
C = Cash dividends
S = Stock dividends
Then, in the example:
RE = $45,000 + $ 8,000 - $6,125
RE = $46,875
Answer:
Did you do your assignment?
This is your answer
Answer:
The correct answer is the tax on food processors was unconstitutional.
Explanation:
On January 6, 1936, the Supreme Court decided in the United States v. Butler, that the act was unconstitutional for the collection of this tax on processors only so that it will be returned to the farmers. The regulation of agriculture was considered a state power. As such, the federal government could not force states to adopt the Agricultural Adjustment Act due to lack of jurisdiction. However, the Agrarian Law of 1938 remedied these technical problems and the agricultural program continued.
Answer:
The changes suggested increase income by 16,000 therefore is a good idea to made the changes
Explanation:
Your Mistake is that fixed expenses should remain constant with a sales increase
Current New
Sales $800,000 $ 912,000
Variable $ 480,000 $ 576,000
Contribution $ 320,000 $ 336,000
<u>Fixed $ 270,000 </u><u><em> $ 270,000 </em></u>
Net Income $ 50,000 <em> $ 66,000</em>
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Answer:
The correct answer is A
Explanation:
A substantial understatement may occur when tax return is understated by an amount greater than 10% of the tax required to be shown on the tax return.
Example: If a tax payer that is suppose to report a $6000 tax due and choose to report a $2000 instead, to know if a penalty will be charged or not it has to be greater than 10% of the amount which is suppose to be reported (i.e $6000 x 10% = 600) . therefore in the case shown above the penalty will be applied
