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
Galina-37 [17]
3 years ago
10

Hayes Bakery has sales of $30,600,costs of $15,350 an addition to retained earnings of $4221, dividends paid of $469, interest e

xpense of $1,300, and a tax rate of 21 percent. what is the amount of the depreciation expense? (show the process)
a. $4,820.13

b. $5,500.89

c. $8013.29

d. $8,180.01

e. $9,500.00
Business
1 answer:
rodikova [14]3 years ago
3 0

Answer:

c. $8013.29

Explanation:

The retained earnings is the accumulated net earnings/losses over the period of existence of an entity. This is usually posted to the retained earnings accounted for as part of owners equity on the face of the balance sheet net the dividend paid.

The net income is the difference between the sales and all expenses including depreciation.

Let the depreciation be d

Net income = retained earnings + dividend

= $4221 + $469

= $4,690

$4,690 = 0.79 ($30,600 - $15,350 - $1,300 - d)

The 0.79 being the net of the tax which is the 21% applied on the net of sales and expenses.

d = $13,950  - $5,936.71

d = $8,013.29

You might be interested in
The condition of fully flexible wages and prices was assumed by
nignag [31]
The answer to this question is <span> B) the classical economists.
Classical economist based their assumptions on the view that market will always find a way to regulate itself without any external intervention.
In reality, many private establishments often exert their power to control a specific resource in the market in order to rake in more profit (such as what monopolist do)</span>
8 0
2 years ago
In each of the following scenarios, explain and categorize the cost of inflation.a) Because inflation has risen, the J.Crew clot
Kazeer [188]

Answer:

Consider the following explanation

Explanation:

a) J. Crew is issuing its catalogs monthly in response to inflation. This will incur cost and it is known as 'Menu Cost'.

b) Grandpa has bought annuity which has promised $10,000 a year for the rest of his life. However, higher than expected inflation means grandpa has lesser purchasing power. This is loss of purchasing power and also 'redistribution cost'. In higher inflation borrower tends to get benefit. Here insurance company is at the gain.

c) Maria is witnessing loss of purchasing power because of hyper inflation. In such scenario, cost keeps rising and product's price could be higher a few hours later. This was witnessed in Germany as well as in Zimbabwe. People run to the stores as soon as they get cash or salary. It is known as 'shoe leather cost'. People make frequent trips to banks or stores but do not keep cash in fear of losing value.

d) Gita actually earned only 5% on her portfolio but as her income is in taxable bracket so she has to pay 20% tax. Her income from portfolio not even compensated inflation. This is a redistribution cost and also known as fiscal drag. More people fall into bracket because higher nominal income but real income is neglected which makes people worse off.

e) Father thinks that son is earning far more than him but inflation over the period of time erodes purchasing power and it could be possible that current income might be lower, same or higher comparing to inflation data. However, if it is lower then it is obviously loss of purchasing power.

5 0
3 years ago
For the doctrine of promissory estoppel to​ apply, which of the following is NOT a required​ element? A. the promisor should hav
erik [133]

Answer:

C) there was an​ offer, acceptance, and consideration

Explanation:

The doctrine of promissory estoppel requires that the following 5 elements must exist:

  1. The parties must anticipate that some type of legal relationship will exist between them.
  2. One party must have made a promise to another party.
  3. One party must rely on the promise made by the other party.  
  4. The party that relied on the promise made by the other party must suffer a detriment if the promise is not fulfilled.
  5. Unconscionability , in other words, there is nothing that forbids the party from performing the promise.
3 0
3 years ago
After much searching, Mort located an old banking friend of his father's. The banker offered Mort up to $25,000 in unsecured fun
VladimirAG [237]

Here, in the given case, Mort was offered a <u>line of credit </u>financial facility. Therefore, Option D is the correct choice.

<h3>What is a line of credit?</h3>

A line of credit is a versatile mortgage from a monetary group that includes a described amount of cash that you could access as needed and pay off both right now or over time. Interest is charged on a line of credit as quickly as money is borrowed.

The missing information in the question is given below:

A. revolving credit agreement.

B. asset guarantee pledge.

C. pledging agreement.

D. line of credit.

Therefore, Here, in the given case, Mort was offered a<u> line of credit </u>financial facility. Therefore, Option D is the correct choice.

Learn more about line of credit:

brainly.com/question/27126499

#SPJ1

4 0
1 year ago
"a company is developing an expert system. it has assembled the participants in its expert systems. taylor has extensive knowled
DIA [1.3K]
Mary's role is that of a knowledge engineer.
A knowledge engineer is tasked with integrating certain knowledge into computer (in this case expert) systems, with the aim to solve very difficult problems that otherwise people would not be able to solve on their own. 
6 0
3 years ago
Other questions:
  • KaiLynn has total job benefits of $41,000 per year in her sales job. She pays $63 each month for a cell phone for work. She is a
    5·1 answer
  • The Principal assets of commercial banks are:
    8·2 answers
  • An investment's time horizon affects the after-tax rate of return on investments taxed annually. true or false
    13·2 answers
  • If the total assets of a business are $107,000 and its liabilities are $75,000, which of the following statements is correct?
    14·1 answer
  • Hollister and Gladys do business as partners in Frothy Confections. For federal income tax purposes, Frothy Confections would be
    13·2 answers
  • Walberg Associates, antique dealers, purchased the contents of an estate for $75,000. Terms of the purchase were FOB shipping po
    10·1 answer
  • Which of the following types of documents is used to ensure that the project has clear boundaries for what is and is not include
    15·2 answers
  • Computing Straight-Line and Double-Declining-Balance Depreciation
    11·1 answer
  • The closer the smoothing constant, ALPHA, is to 0 the greater the reaction to the most recent demand the greater the dampening,
    7·1 answer
  • You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!