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Ghella [55]
4 years ago
10

A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of

$56,250 in the current period. The ending balance in retained earnings equals: Multiple Choice $546,250. $426,250. $116,250. $433,750. $490,000. g
Business
1 answer:
snow_lady [41]4 years ago
6 0

Answer:

Ending retained earning will be $433750

Explanation:

We have given beginning balance = $430000

Net income = $60000

Dividend paid = $56250

We have to find the ending balance

We know that ending retained earning is given by

Ending retained earning = beginning retained earning + net income - dividend paid

So Ending retained earning = $430000+$60000-$56250 = $433750

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Plz help me wit dis ill give robux XD lol
Elena-2011 [213]

Answer:

I'm going to guess here and say efficiency, trustworthiness, and patience

4 0
3 years ago
Read 2 more answers
An asset (not an automobile) placed in service in June 2018 has a depreciable basis of $2,555,000, a recovery period of 5 years,
yuradex [85]

Answer:

The amount allowed in the year 2018 = $298,083

Explanation:

Provided information,

Asset value = $2,555,000

Life of asset = 5 years

Salvage value =  $0

Since depreciation is not to be charged on bonus basis, the depreciation for each year = $2,555,000/5 = $511,000

Since the asset is put to use in June, the amount to be deducted will be for 7 months June to December.

= 511,000 \times \frac{7}{12} = 298,083

Thus the amount allowed in the year 2018 = $298,083

4 0
3 years ago
Identify the element or elements associated with these items.(a) Arises from peripheral or incidental transactions. select an el
lutik1710 [3]

Answer: .(a) Arises from peripheral or incidental transactions - corresponds to the definition of gains and losses.

(b) Obligation to transfer resources arising from a past transaction. - Corresponds to Liabilities.

(c) Increases ownership interest. - Investment by owner, Comprehensive Income.

(d) Declares and pays cash dividends to owners. - It is the Distributions to Owners.

(e) Increases in net assets in a period from nonowner sources. - Corresponds to Comprehensive Income.

(f) Items characterized by service potential or future economic benefit. - Is the definition of Assets.

(g) Equals increase in assets less liabilities during the year, after adding distributions to owners and subtracting investments by owners. - Comprehensive Income.

(h) Arises from income statement activities that constitute the entitys ongoing major or central operations. - Corresponds to the definition of Revenues and Expenses.

(i) Residual interest in the assets of the enterprise after deducting its liabilities. - Equity.

4 0
3 years ago
ABC Mechanics charges an estimate fee of $100 plus $40 per hour, x, in labor. XYZ Mechanics charges an estimate fee of $65 plus
Dima020 [189]

Answer:

5 hours  would work! Hope it helps!

Explanation:

100 off top!

40 in labor for each hour

40 times 5 is 200

so that would cost 300

for xyz

65 off top and 50 in labor for each hour

5 times 50 is 250

250 plus 65 is 315 !

7 0
3 years ago
. Will we ever live in a world without scarcity? Explain.
SSSSS [86.1K]

Answer:

No

Explanation:

Scarcity is a way to make money, if there is more people will tend to not worry as much as to getting it. If there is less more people will want it because there is less. Take for example the McDonald's Travis Scott shirt many want it because there is not one for everyone.

4 0
4 years ago
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