All categories

3 years ago

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 $22,000

Retained earnings, December 31, 2017 $32,000

Statement of retained earnings

For the year ended 2018

Retained earnings, January 1, 2018 $0

Add: Net Income $59,000

Less: Dividends $34,000

Retained earnings, December 31, 2018 $25,000

You might be interested in

Northern university wants to determine the average starting salary for last year's graduates of its college of business. what is

kkurt [141]

All of Northern's College of Business graduates from the previous academic year has begun employment.

<h3>What is employment?</h3>

Employment is a partnership between two people that controls the delivery of compensated labor services. In most cases, based on a contract, one party, the employer, which could be a business, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in exchange for completing prescribed tasks.

Depending on the type of work performed, the industry circumstances in force, and the parties' ability to negotiate, money for labor is received in the form of an annual salary, piecework compensation, or an hourly wage. In some industries, employees may get stock options, bonuses, or gratuities.

Employees may earn benefits in addition to compensation in some jobs. Benefits may include housing, health insurance, and disability insurance. Usually, organizations, legislation, or contracts govern employment.

Learn more about employment with the help of the given link:

brainly.com/question/14312389

#SPJ4

6 0

1 year ago

When does a corporation record an increase in Dividends Payable?

Gnoma [55]

Answer:

B. On the declaration date

Explanation:

Dividend payable are usually advised by management but must be ratified by the shareholders (usually in the annual general meeting) for such to be come recognizable in the books. The date of ratification is the declaration date

As such a corporation record an increase in Dividends Payable on the declaration date.

The right option is B. On the declaration date

4 0

3 years ago

What is the prime rate? a. the prime rate is the best interest rate that banks offer their most creditworthy customers. b. the p

trapecia [35]

Prime rate is (a) the best interest rate that banks offer their most creditworthy customers.

A prime rate is decided by the bank to lend money to its customers where the credit giving is decided on the basis of the credit history and points on the customers formally known as the credit rate of investment.

It totally depends upon the allowance of credit by financial institutions and then the payment made by the loan taking customers within a stipulated time frame.

To learn more about prime rate here,

brainly.com/question/28235888

#SPJ1

3 0

1 year ago

Which of the following describes the goal that should be pursued when setting transfer prices? Minimize opportunity costs. Maxim

nata0808 [166]

Answer:

Establish incentives for autonomous division managers to make decisions that are in the overall organization's best interests (i.e., goal congruence).

4 0

3 years ago

Read 2 more answers

daily enterprises is purchasing a $10 million machine. it will cost $50,000 to transport and install the machine. the machine ha

kupik [55]

The machine's annual depreciation costs are calculated by dividing the machine's purchase price by its installation cost over a 5-year period:Depreciation costs equal (10,700,000 + 56,000) / Number of Years divided by five, or $2,151,200.

The value of a fixed asset less the total accumulated depreciation that has been recorded against it is its depreciated cost. The total amount of capital that is "used up" in a certain time frame, such as a fiscal year, is referred to as the depreciated cost in a broader economic sense. The accuracy with which depreciation is calculated allows one to assess patterns in a company's capital expenditures and how aggressive its accounting practices are. The terms "salvage value," "net book value," and "adjusted cost base" are all synonyms for "depreciated cost." Businesses and private individuals can calculate an asset's useful worth using the depreciated cost technique of asset appraisal.

learn more about depreciation costs here:

brainly.com/question/24297521

#SPJ4

7 0

1 year ago