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Makovka662 [10]
3 years ago
9

Midyear on July 31st, the Andrews Corporation's balance sheet reported: Total Liabilities of $81.319 million Cash of $8.040 mill

ion Total Assets of $190.768 million Total Common Stock of $5.080 million. What were the Andrews Corporation's retained earnings?
Business
1 answer:
hoa [83]3 years ago
6 0

Answer: $104.369 million

Explanation:

Given that,

Total Liabilities = $81.319 million

Cash = $8.040 million

Total Assets = $190.768 million

Total Common Stock = $5.080 million

Therefore,

                     Total assets = Total liabilities + Total stockholders' equity

              $190.768 million = $81.319 million + Total stockholders' equity

Total stockholders' equity = $190.768 million - $81.319 million

                                            = $ 109.449 million

Total stockholders' equity = Total common stock + Retained earnings

Retained earnings = Total stockholders' equity - Total common stock

                                = $ 109.449 million - $5.080 million

                                = $104.369 million

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3 Points
Maslowich

Answer:

C. An auction market

Explanation:

Option A is wrong because merchant wholesalers purchase any products directly from the manufacturers and sell those to the retailers, or consumers. In that case, buyers and sellers do not need to come together to complete a transaction.

Option B is incorrect as the warehouse club is recognized as a retail store where customers can purchase bulk products to reduce the expenses. In that case, only sell is the motive.

Option D is wrong because drop shippers cannot hold the inventory to their stocks. Therefore, customers and manufacturers will not come together.

<u><em>Option C</em></u> is correct because, in an auction market, the buyer and the seller have to come at the same time to complete a transaction. In that market, the buyer will directly negotiate with the seller to purchase a product or something else.

5 0
4 years ago
Read 2 more answers
The amount of reserves that a commercial bank is required to hold is equal to?
kramer

Answer:

its checkable deposits multiplied by the reserve requirement.

Explanation:

5 0
2 years ago
The gap between 'where we are now' and 'where we want to be' is known as the.....​
Harman [31]

Answer:

Planning gap.

Explanation:

Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.

This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.

The planning gap can be defined as the gap between "where we are now?" and "where we want to be?"

Basically, "where are we now?" describe the current situation of things or financial and non-financial activities that a business firm currently holds.

On the other hand, "where we want to be?" is a vision and mission statement that focuses on achieving the goals and objectives set for a business firm.

7 0
3 years ago
What was the benefit of being a stockholder in a corporation?
jeyben [28]

Explanation:

A stockholder is characterized by an investor who owns shares of a particular publicly traded company whose shares are traded through the stock exchange or in particular.

There are several stock market benefits for corporations and shareholders alike.

For companies, making available shares corresponds to the capital injection in the organization, which assists in conducting business.

<u>For the stockholders</u>, the benefits are diverse, as they become part of the owners of the organization, the number of shares they own in a given company will be decisive to influence their decision-making power in the company, since stockholders have voting rights in corporate affairs and receives an amount of dividends acquired by the organization in a given period.

4 0
4 years ago
It costs Marigold Company $26 per unit ($18 variable and $8 fixed) to produce its product, which normally sells for $38 per unit
olasank [31]

Answer:

$6,200 Increase

Explanation:

Given that,

Costs Marigold Company = $26 per unit

Fixed cost = $8

Variable cost = $18

Selling price = $38 per unit

Foreign wholesaler offers to purchase 6200 units at $21 each.

Shipping costs = $2 per unit

Effect on net income:

= Sales - Variable cost - special shipping cost

= (6,200 × $21) - (6,200 × $18) - (6,200 × $2)

= $130,200 - $111,600 - $12,400

= $6,200 Increase

7 0
4 years ago
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