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
sineoko [7]
3 years ago
13

Stone Culture Corporation was organized on January 1, 2017. For its first two years of operations, it reported the following:

Business
1 answer:
HACTEHA [7]3 years ago
7 0

Answer:

             Statement of retained earnings

                   For the year ended 2017

Retained earnings, January 1, 2017              $0

Add: Net Income                                         $54,000  

Less: Dividends                                           $<u>22,000</u>

Retained earnings, December 31, 2017   <u>$32,000</u>

            Statement of retained earnings

                  For the year ended 2018

Retained earnings, January 1, 2018             $0

Add: Net Income                                          $59,000

Less: Dividends                                            <u>$34,000</u>

Retained earnings, December 31, 2018   <u>$25,000</u>

You might be interested in
Questioñ 2 (1 point)
BlackZzzverrR [31]

Answer:

business, management, and administration cluster

Explanation:

Business Management and Administration Career Cluster emphases on careers in planning, organizing, directing, and evaluating business functions.

8 0
3 years ago
Lakeview Company completed the following two transactions. The annual accounting period ends December 31.
Ann [662]

Answer: Check attachment and explanation.

Explanation:

a. The question has been solved. Check the attachment.

b. LAKEVIEW COMPANY

Balance sheet (Partial)

December 31

Current liabilities

FICA Payable=$4800 + $4800= $9600

Charitable contribution payable = $2400

Withheld income tax payable = $6400

State and Federal unemployment tax payable = $560

Unearned rent revenue = $5700 - $3800 = $1900

Total current liabilities = $20860

6 0
2 years ago
At July 31, Cullumber Company has this bank information: cash balance per bank $7,310, outstanding checks $715, deposits in tran
Luba_88 [7]

Answer:

$7,900

Explanation:

In Bank reconciliation statement the balances of Bank statement and the Balance from cash register is adjusted to calculated the adjusted cash balance for reporting at the end of the period. This is due to some outstanding deposits and Payment and other experiences which makes a difference between the bank statement balance and cash register balance.

Cash balance per bank = $7,310

Outstanding checks are those check which has been issued but not been presented in the bank yet. Deposit in transit is the amount of deposit which is pending in the clearing process.

Adjusted Balance = Cash Balance per bank - Outstanding Checks + Deposit in transit = $7,310 - $715 + $1,305 = $7,900

Bank charges are already adjusted in the cash balance per bank.

5 0
3 years ago
A homeowner paid $85,000 for a house three years ago. The house sells today for $110,000. How much has the property appreciated?
Dima020 [189]

Answer:

Option (a) is correct.

Explanation:

Amount paid for house three years ago = $85,000

Selling price of house today = $110,000

Therefore,

Property appreciated by following percentage:

= (change in value ÷ Amount paid for house three years ago) × 100

= [($110,000 - $85,000) ÷ $85,000] × 100

= ($25,000 ÷ $85,000) × 100

= 0.2941 × 100

= 29.41%

6 0
3 years ago
He was very excited by the new features of windows 95.
Irina18 [472]

What's the question?

5 0
3 years ago
Other questions:
  • Al, who is single, has a gain of $40,000 on the sale of § 1244 stock (small business stock) and a loss of $80,000 on the sale of
    14·1 answer
  • If a corporation has two classes of common stock, what is typically unique about the second or class b common stock?
    12·1 answer
  • What monthly rate of interest will yield an annual effective rate of interest of 14%?
    15·1 answer
  • Attorneys Arianna and Alexander share an office that has a sign reading: "A &amp; A, a law firm." Their billing invoices have bo
    10·1 answer
  • DG Loans, a mortgage lender, was charged with a discrimination lawsuit. It alleged that the company was offering loans at higher
    11·1 answer
  • On November 1, 2017, Bob, a cash basis taxpayer, gave Dave common stock. On October 30, 2017, the corporation had declared the d
    13·1 answer
  • Last year, Cayman Corporation had sales of $7,000,000, total variable costs of $3,000,000, and total fixed costs of $1,500,000.
    8·1 answer
  • Which of the following statements is generally true about arbitration? Group of answer choices Courts may set aside an arbitrati
    7·1 answer
  • The purpose of using a balanced scorecard is for Multiple Choice companies to keep track of their wins and losses. companies to
    14·1 answer
  • A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $105 (a $525 check
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!