If you cut your prices by 10 percent and total revenues rise, the price elasticity of demand is

Retained earnings represents: Multiple Choice Amount of cash available for paying dividends. Total assets minus total liabilitie

kotegsom [21]

Answer:

All net income, less all dividends, since the company began operations.

Explanation:

Retained Earnings are the retained profits that the company keeps with itself, for meeting any case of emergency or for growing company and thus, meeting the growing expenses.

Each year when company earns profits and then, it distributes its profits in the form of dividends, the balance remaining after paying the dividends is added to retained earnings.

Thus, the entire balance of these kind of profits not paid anywhere else and also not utilized is called retained earnings.

4 0

3 years ago

Vandiver Company had the following select transactions:

Tamiku [17]

Answer:

1. April 1, 2017 Accepted Goodwin Company's 12-month, 10% note in settlement of a 30400 account receivable

Dr Notes receivable__30.400

Cr Accounts receivable______30.400

2.July 1, 2017 Loaned 32,400 cash to Thomas Slocombe on a 9-month, 8% note.

Dr Notes receivable__32.400

Cr Cash___________________32.400

3. Dec. 31, 2017 Accrued interest goodwin company

Dr Interest receivable_2.280

Cr Interest revenue_______2280

3. Dec. 31, 2017 Accrued interest slocombe

Dr Interest receivable_1.296

Cr Interest revenue_______1.296

4.Apr. 1, 2018 Received principal plus interest on the Goodwin note.

Dr Cash_33.440

Cr Notes receivable_____30,400

Cr Interest revenue________760

Cr Interest receivable_____2280

5. Apr. 1, 2018 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect

Dr Accounts receivable_33.944

Cr Notes receivable______32.000

Cr Interest revenue_________648

Cr Interest receivable______1296

Explanation:

Interest calculation Goodwin

Account receivable_30400

Interest rate_________10%

Interest___________3040 12 months

Interest___________2280 From april 2018 to december 2018

Interest____________760 From january 2018 to march 2018

Interest calculation Slocombe

Account recievable_32400

Interest rate_________8%

Interest__________2592

Monthly___________216

Interest__________1296 6 months interest

Interest___________648 3 months interest

6 0

3 years ago

a person who works for a firm, but is not necessarily an owner, is called multiple choice question. a shareholder an agent a sto

Vadim26 [7]

Principal: The person or entity on whose behalf and subject to whose control an agent acts.

Agent: A person who agrees to act on behalf of and instead of his or her principal, subject to the principal's control.

<h3>What is the meaning of the principal-agent problem?</h3>

The principal-agent problem is a conflict in priorities between a person or group and the representative authorized to act on their behalf. An agent may act in a way that is contrary to the best interests of the principal.

<h3>What is a principal-agent relationship?</h3>

The principal-agent relationship is an arrangement in which one entity legally appoints another to act on its behalf. 1 In a principal-agent relationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act.

To learn more about principal-agent, refer

brainly.com/question/28077185

#SPJ4

8 0

2 years ago

The following costs were incurred in September: Direct materials $42,900 Direct labor $29,500 Manufacturing overhead $30,500 Sel

Helga [31]

Answer:

$60,000

Explanation:

Given that,

Direct materials = $42,900

Direct labor = $29,500

Manufacturing overhead = $30,500

Selling expenses = $21,700

Administrative expenses = $35,800

Conversion costs:

= Direct labor + Manufacturing overhead

= $29,500 + $30,500

= $60,000

Therefore, the conversion costs for September is $60,000.

8 0

4 years ago

Which of the following is not true of generally accepted accounting principles?

andrey2020 [161]

Answer:

(A) GAAP does not have substantial authoritative support.

Explanation:

Choices B to C are true about GAAP.

Now, Choice A is not true since GAAP also includes detailed procedures and practices that provide a <u>standard</u> and not only broad guidelines of general application and this will imply that GAAP has a <u>substantial authoritative support.</u>

<u></u>

Also it is called "Generally Accepted Accounting Principles" for this reason.

8 0

3 years ago