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
frutty [35]
3 years ago
9

he 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:
butalik [34]3 years ago
3 0

Answer:

$29,000 (Net Income for the year)

Explanation:

First, calculation of the net income for the year

Net Income in this context will take into consideration the place of dividends paid out to the investors. Net income is usually the difference between the revenue and the expenses for the year. S<u>ince, dividends is an expense for the company, a work back based on the balance of stockholders' equity and dividend will yield the net income. </u>

Net Income will be calculated as follows

Ending Balance of Stockholders' equity + Dividends - Beginning Balance

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

= $29,000 (Net Income for the year)

You might be interested in
Fred Sweet runs dancing classes for middle-aged and elderly people. Some of Fred's customers lack physical coordination, and inj
Anuta_ua [19.1K]

Answer: the correct answer is D. That Fred used a fine-print exculpatory clause, which means that the customer lacked knowledge of the clause's existence.

3 0
4 years ago
Crane purchases equipment by signing a note payable with the equipment dealer for $10,000. The accounts affected for Crane are _
maxonik [38]

Answer:

Equipment and notes payable

Explanation:

Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered

The journal entry would be

Equipment A/c Dr $10,000

        To Notes payable $10,000

(Being the equipment is purchased  by signing a note payable)

7 0
3 years ago
The merchants in Dallas, Texas, suffered flood damage in May 2003. Stores were closed for remodeling nearly two months. What is
Solnce55 [7]

When merchants in Dallas had to close their stores for remodelling, this type of variation is known as the irregular components.

<h3>What is an irregular variation?</h3>

An irregular variation in sales occurs when sellers change the quantity of things they sell as a result of an unexpected event.

In this case, sellers stopped selling because they had an irregular event when a flood damaged their stores.

Find out more on effects of unexpected events at brainly.com/question/26951330.

#SPJ4

5 0
2 years ago
__________ was intrigued by the elements of street life: store windows, graffiti, advertisements, and trash. As a result, he gai
Novosadov [1.4K]

Answer:

Claes Oldenburg

Explanation:

This man was a famous sculptor, and his artwork focused on consumer life, described as in the question.

7 0
3 years ago
Explain how (if at all) each of the following events affects the location of a country’s production possibilities curve
fgiga [73]

Answer:

An increase in the quality of education would increase human capital. This would lead to an outward shift of the production possibilities curve

b. If the number of unemployed workers increases, there would be no change in the labour force. the production possibilities curve would not be affected

c. The new technology is technological advancement. Technological advancement leads to an outward shift of production possibilities curve

d. The earthquake would destroy capital stock and resources needed in the production process. As a result, production possibilities curve would shfit inward

Explanation:

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.

As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.

3 0
3 years ago
Other questions:
  • Mordred had been sued by a former business partner. the partner was seeking $1,000,000 in damages. mordred felt that this claim
    11·1 answer
  • A large medical professional organization with membership consisting of doctors, nurses, and other medical employees wanted to k
    11·1 answer
  • Which of the following situations would not result in auditors adding an additional paragraph to their report without modifying
    14·1 answer
  • In 2013, the Social Security Administration announced that the Social Security Maximum Taxable Earnings would be capped at $113,
    10·1 answer
  • A _________________________ is calculated as a flat percentage of income earned, regardless of level of income.
    14·2 answers
  • A proposed project will require an initial investment of $1,000,000 and will generate net operating cash inflows of $250,000 per
    15·1 answer
  • review financial website or publications and three examples of a bond. for each bond gather the following information and comple
    15·2 answers
  • What is transparency
    11·1 answer
  • the u.s. unemployment rate moves up and down as the economy moves in and out of recessions. but over time, the unemployment rate
    9·1 answer
  • Longitudinal research is complicated by high rates of.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!