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mash [69]
3 years ago
11

Q 4.41: Pierson Industries has a beginning retained earnings balance of $42,500. An adjusted trial balance shows total expenses

of $97,300 and revenue of $104,800. If dividends for the year were $3,500, determine the ending retained earnings balance for the year.
Business
1 answer:
stealth61 [152]3 years ago
4 0

Answer:

=$46,500

Explanation:

Retained earning = beginning retained earning+ earnings - dividends.

For  Pierson Industries

Beginning retained earnings is $42,000

revenues are $104,800

expenses $97,300

Dividends paid out $3,500

Earning for the period will be revenue minus expenses

=$104,800 - $97,300=$7,500

retained earnings are the end of the year will be

= $42,500+$7,500 -$3,500

=$50,000 -$3,500

=$46,500

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Answer:

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Explanation:

Cash flow represent the amount of cash revenue less out of pocket cash expenditures. Non-cash related items are not included.

Year    4                                               cash flow     ;

                                                                     $

Operating cash flow                               $58,500

Working capital recouped                     4,950

Scrap value                                            6,090    

Tax payable (40%*58500)                      <u>(23400 )</u>

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3 0
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Answer:

a. Particulars                                  Amount  

Patent cost                                     $400,000  

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Book value at the end of year 3  $250,000

Addition during Year 4                  <u>$20,000  </u>

Total book value                            <u>$270,000</u>

Patent amortization expense for the Year 4 = Total book value / Remaining life

Patent amortization expense for the Year 4 = $270,000 / 5

Patent amortization expense for the Year 4 = $54,000

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Luthan Company uses a predetermined overhead rate of $22.60 per direct labor-hour. This predetermined rate was based on a cost f
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Answer:

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