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
aleksandr82 [10.1K]
2 years ago
8

The balance of​ stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000​

, respectively. The company issued no common stock during the year. Dividends were $ 22 comma 000. What was the net income or loss for the​ year?
Business
1 answer:
Paul [167]2 years ago
8 0

Answer:

Explanation:

Income/ (loss) for the year = Equity balance at the end +dividend paid- equity balance at the beginning

=$67,000+22,000-$60,000

=$29,000

Since  no additional common stock was issued during the year, $29,000 represents income earned during the year before dividend is paid. After dividend of $22,000 has been paid, the balance of $7,000 profit will be added to retained earnings .

You might be interested in
Suppose that you go to a bank at which you have no account, give the bank cash, and in return obtain a check drawn against that
igomit [66]

Answer:

Cashier's check.

Explanation:

These checks are said to be quaranteed and issued in the bank by the banking institute. It contains the name of the receiver receipiant which has been inscribed in the check by the banking institute or credit union attached to the receiver also with the amount of money written on it. This amount written on it is known to be the withdrawable amount.

The cashier's check can be sent out in form of a letter, fax or even a mail to the intended persons or organisation making the withdrawal.

Here, monies which are been orders are easily secured by use of a cashier’s checks.

3 0
3 years ago
A property owner installs a new air conditioning system. how does this affect the property's effective age?
Rama09 [41]

The effect that the newly installed air conditioning system would have on the property's effective age would be: it decreases it.

<h3>What is a Property's Effective Age?</h3>

The effective age of a property can be described as the reflection of the true life of the property that is left remaining, based on the life expectancy that is typical of equipment or buildings that are similar to it and their usage.

So, when a property owner installs a new air conditioning system on a property, the air conditioning system, can cause wear and tear to the property which reduces how long the property can serve its purpose.

Therefore, we can conclude that the effect that the newly installed air conditioning system would have on the property's effective age would be: it decreases it.

Learn more about a Property's Effective Age on:

brainly.com/question/16490794

#SPJ4

6 0
1 year ago
When choosing a type of media to use what should be considered? Why?
marusya05 [52]

Answer:

sanp

Explanation:

because evry one of my frindis use it

8 0
3 years ago
On the twentieth day of the month, room sales at the Motor Lodge Motel exceeded its breakeven point for the month. Revenue gener
Firdavs [7]

Answer:

D) increase at a faster rate than the costs associated with those sales.

Explanation:

If the break even point was reached during the 20th day of the month, then any revenue generated during the remaining 10-11 days will increase net profits. The amount of net profit increase will be determined by the contribution margin of each service provided. The contribution margin = net sales - variable costs. Since the fixed costs have already been covered, the contribution margin will be equal to the net profit.

4 0
3 years ago
Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $100,000 in sales during the seco
nydimaria [60]

Answer:

c) $20,000.

Explanation:

The computation of the estimated ending inventory is shown below:

We know that

Cost of goods sold = Beginning inventory + purchase made - ending inventory

And, the

Sales - gross profit = Cost of goods sold

$100,000 - $100,000 × 30% = Cost of goods sold

So, cost of goods sold would be

= $100,000 - $30,000

= $70,000

Now the ending inventory would be

$70,000 = $18,000 + $72,000 - ending inventory

$70,000 = $90,000  - ending inventory

So, the ending inventory would be

= $90,000 - $70,000

= $20,000

5 0
3 years ago
Other questions:
  • Which of the following is not a cost posed by inflation? Inflation reduces the affordability of goods and services to the averag
    5·1 answer
  • "A customer holds 10 ABC Jan 60 Call contracts. ABC Corporation is paying a 20% stock dividend. On the ex date, the contracts wi
    12·1 answer
  • Jackson Corporation owns 10% of the voting stock of Kettering Company and has been reporting it as an equity investment with no
    8·1 answer
  • Sgesergrbrtbtrbtrb rgbrbbteber
    14·2 answers
  • D. Short answer questions:
    7·2 answers
  • Suppose the economy is currently in short run macroeconomic equilibrium, with actual GDP bigger than potential GDP.
    14·1 answer
  • Reflection of food and beverage
    11·1 answer
  • You are evaluating five different investments, all of which involve an upfront outlay of cash. Each investment will provide a si
    11·1 answer
  • What does you credit score tell lenders about you
    8·1 answer
  • A bond issued by the state of Alabama is priced to yield 6.40%. If you are in the 30% tax bracket, this bond would provide you w
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!