Answer: $66,810,000
Explanation: take the balance at the beginning of the year add it to the net income from statement of comprehensive incomes then minus the cash dividends declared from the total of the beginning balance and net income then get the retained balance at the end of the 20Y3 year of 66 810 000.
The stock dividends of 2,600,000 have two accounts involved which is stock( inventory) and dividends declared which is an liability.
Sumter Pumps Corporation
retained income statement for the year ending 31 december 20Y3
balance 01/jan/20Y3 $59,650,000
CHANGES IN EQUITY
Net Income 8,160,000
dividends paid and declared
Cash dividend 1,000,000
stock dividend 0
balance 31 dec 20Y3 $66,810,000
The concern family businesses have about retaining family management is
that there may be a lack of innovation with the successors.
This is because all individuals have their respective interest, passion and
knowledge about certain things. The family member who set it up had
interest in the field which led to the establishment of the company.
When the individuals who are to take over have a different interest to what's
applicable then there will be a lack of innovation which is vital in promoting
the company's growth.
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Answer:
The answer is B:
The aggregate injections equal aggregate withdrawals S+T+M = I+G+X.
Explanation:
In the circular flow of income, Keynesian equilibrium obtains when The aggregate injections equal aggregate withdrawals S+T+M = I+G+X.
Where S = Saving
T = Taxes
Imports = (M)
I = Investments
G = Government spending
X = Exports
An equilibrium is approached when there is a balance between the savings, taxes and imports and investments, government spendings and exports.
Answer: Primemerica
Explanation: Its a financial company where you get to build a business within the company. You will be helping families financially. You going to help people get out of debt, make sure they have the right amount of life insurance coverage, and show them how to reach their goals (such as saving for retirement, college fund, vacation, buying a house, or whatever their goals are). Most people don't have a plan on how to reach their goals. Without a plan, their goals will never come true because there are too many distractions in life.
Besides helping families, you can also recruit people into your business and every recruit has the same opportunity as you do. Why recruit? For one, there's only 24 hours in a day and you are just 1 person. How much work can you do by yourself? If you recruit people, more work gets done. Second, you get to make new friends by recruiting. Third, you override your recruits. That means every time your recruit helps a family, the company pays you an override. An override is not a split in commissions. Its profits earn from a sale. That's how every business work. For example, if you worked at McDonalds, every time you sell a burger, the company earns a profit. Do you think the owner of a McDonalds restaurant is there? Of course not. He or she is probably enjoying life.
Override leads to freedom. The top earners in this company earning millions of dollars per year really don't do any work anymore. They live off overrides and residual income (which is work they done in the past continues to pay them forever). Some of these million dollar earners do training and teach others valuable lessons on how to build a business. If you look at the background of these million dollar earners, most of them came from a poverty or middle class families. Are these people any better than you or me? Of course not. They just worked harder than anyone else. Will you get to be a million dollar earner? Only if you work as hard as they did and do it long enough. It all depends on how badly you want it and how much do you believe in yourself.
A company has net income of $ 225,000 and declares and pays dividends in the amount of $ 75,000 .
c. An increase of $ 150,000 is the net impact on retained earnings is the correct option.
Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.
For most people, income means gross income in the form of wages and salaries, return on investment, pension payments, and other income.
The definition of income is the amount of money received by an individual, group or business during a specified period. An example of income is an annual salary of $70,000.
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