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Fed [463]
3 years ago
14

On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders’ equity of $125,000. During the current y

ear, total revenues were $100,000 while total expenses were $89,500. Also, during the current year the company paid $24,000 in dividends. No other changes in equity occurred during the year. The change in total equity during the year was:
Business
1 answer:
Lady bird [3.3K]3 years ago
7 0

Answer: ($13,000)

Explanation:

Closing balance of Equity = Opening Balance + Retained earnings

Retained earnings = Net Income - dividends

Formula above shows that equity changes as a result of Retained earnings which is the net of Net Income and Dividends.

Change in equity will be = Net Income - Dividends

= (100,000 - 89,500) - 24,000

= -$13,500

<em>Equity reduces by $13,500</em>

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There are several elements that need to be covered when conducting a formal marketing/ sales event except A. providing a list of plans that have the same star rating.

<h3>How can you be compliant when conducting a formal marketing/sales event?</h3>

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A complete plan presentation should also be provided to ensure that consumers know what they are getting into.

You do not however have to provide plans that have the same star ratings as the plan being presented on.

Options for this question include:

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B. providing a complete plan presentation.

C. providing different plans

Find out more on formal sales events at brainly.com/question/24370156.

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3 0
2 years ago
As the manager of Margarita Mexican​ Restaurant, you must deal with a variety of business transactions. Provide an explanation f
Shalnov [3]

Answer:

A. Debit Equipment and credit Cash.

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B. Debit Dividends and credit Cash.

  • You paid cash dividends.

C. Debit Wages Payable and credit Cash.

  • You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.

D. Debit Equipment and credit Common Stock.

  • You received equipment in exchange for common stock.

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7 0
3 years ago
Other things remaining the same, if the price of a , budget line ______. other things remaining the same, if budget for and , bu
Karo-lina-s [1.5K]

1. Other things remain the same if the price of a budget line increases then the budget line will tilt inwards from the intercept of the goods whose price is constant.

2. other things remaining the same, if the budget for and, budget line a change in the Income of Consumer.

The budget line will move to the right to the new location as a result of the price of good X declining, the consumer's income being constant, and the price of Y increasing. If the price of good X increases while the price of good Y and income remain unchanged, the budget line will go up.

A budget line is a line that specifies the upper and lower bounds of permissible consumption and is based on the SUPPLY and DEMAND of goods and services from the customer. Budget, Prices, Demand, Prices Budget, Prices, Demand, Prices He has $1.00 to spend each week on coffee and Coke, and he has a total of $12.00 to spend on these items.

Learn more about the budget line and price of goods here:

brainly.com/question/10269526

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7 0
2 years ago
How soon does a landlord have to return a security deposit in Florida?
shusha [124]

Answer:

15days

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3 years ago
Which of the following is a disadvantage of a strategic alliance?
lions [1.4K]

Answer: E. Strategic alliance gives competitors a low-cost route to new technology and markets

Explanation:

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3 years ago
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