Answer:
$162,520
Explanation:
As per the given question the solution of retained earnings is provided below:-
To reach at retained earning first we need to find out the total expenses and net income which are as follows:-
Total Expenses = Advertising Expense + Income Tax Expense + Rent Expense + Supplies Expense
= $40,000 + $26,000 + $23,400 + $33,800
= $123,200
now,
Net income = Revenue - Expenses
= $200,000 - $123,200
= $76,800
So, the Retained Earnings as of December 31, 2019 = Retained Earnings of January 1, 2019 + Net Income - Dividend
= $115,720 + $76,800 - $30,000
= $192,520 - $30,000
= $162,520
Answer:
Dr Cash account 50,000
Cr Bonds Payable account 50,000
Explanation:
The company received $50,000 in cash. Since cash is an asset and it increased when the bonds were issued, it should be debited.
The company has to pay bonds worth $50,000. Since bonds payable is a liability and it increased when the bonds were issued, it should be credited.
The possession of a credit thin file is a liability and not an asset because its does not allows lender to access your credit worthiness which makes it hard to obtain loans or credit.
<h3>What is a credit scores?</h3>
A credit score serves an a finacial tool that helpt to tells about someone's creditworthiness.
Normally, the higher the credit score, the higher the rate of repayment of credit.
Hence, these credit score are used by lenders to decide whether to borrow, extend or deny credit for a borrower.
However, having a thin file is not considerd an asset in credit scores because its does not let us know the willing borrower's repayment history of credit.
Read more about credit scores
<em>brainly.com/question/26220899</em>
Answer:
B. To enable rationing
Explanation:
<em>The purpose of price ceiling would be to enable rationing.</em>
A price ceiling represents an imposed price control over a product. It is the maximum amount a manufacturer or a supplier is allowed to charge for a product within an economy.
Price ceilings are imposed so as to ensure that prices of products remain within the range of an average consumer within a population and prevent excessive upward movement of prices.
<u>Price ceilings help in rationing. It ensures that an average consumer is not overcharged for products in as much as the manufacturer/suppliers get reasonable profit for their production.</u>
