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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>

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Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the followin
ANEK [815]

Answer:

Budgeted Income Statement for the year

Sales (820 units × $ 2,130)                            $1,746,600

Less Cost of Sales (820 units × $ 1,500)    ($1,230,000)

Gross Profit                                                       $516,000

Less Operating Expenses :

Selling and administrative expense

Variable (820 units ×  $ 75)                              ($61,500)

Fixed                                                               ($400,000)

Operating Profit                                                 $54,500

Less Non - Operating Expenses :

Interest                                                            ( $29,000)

Net Income / (Loss)                                           $25,500

Explanation:

Income Statement shows the company`s performance from its operations.

Income / (Loss) = Sales - Expenses.

4 0
3 years ago
according to one-period model of macroeconomics which of the following statements is correct about an economy engaging in a war
KIM [24]

Option (b) for a response. In order to keep the expenditure multiplier from exceeding 1, output must increase while consumption must decrease.

<h3>Spending multiplier: What does it tell you?</h3>

An economic indicator of the impact that changes in government spending and investment have on a nation's Gross Domestic Product is the expenditure multiplier, often known as the fiscal multiplier.

<h3>When the multiplier is negative, what does that mean?</h3>

The negative multiplier effect happens when a spending leak or initial withdrawal from the circular flow has further impacts and a larger final decline in real GDP.

<h3>Why does multiplier exceed 1?</h3>

The rise in the national product indicates a rise in national income. Consumption demand rises as a result, and businesses produce to satisfy it. As a result, the increase in investment is greater than the increase in national income and product. There is a multiplier effect that exceeds one.

Learn more about expenditure multiplier: brainly.com/question/28140364

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What methods may an economist use to test a hypothesis? A. Wait for real-world events to confirm or refute the hypothesis. B. Co
Scrat [10]

Answer:

A. Wait for real-world events to confirm or refute the hypothesis.

B. Conduct one or more experiments.

Explanation:

Hypothesis by economists can lead to results that can decide economic policy. As such, it is important that they are tried and tested.

One way of testing a hypothesis is the standard method of conducting one of more experiments. These experiments will simulate world settings so that the experiment can be as close as possible to the real world.

Another method is to experience the hypothesis. The economist could just wait for events in the real world to either confirm or deny the hypothesis because the economy is dynamic and has been known to react uniquely to events that it otherwise should not have reacted to. It is therefore likely that it might react in a certain way that will enable the economist test their hypothesis.

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Answer:

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