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aleksandr82 [10.1K]
3 years ago
5

Use this end-of-period spreadsheet to answer the questions that follow. Finley Company End-of-Period Spreadsheet For the Year En

ded December 31 ​​ Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 48,000 48,000 Accounts Receivable 18,000 18,000 Supplies 6,000 6,000 Equipment 57,000 57,000 Accumulated Depr. 18,000 18,000 Accounts Payable 25,000 25,000 Wages Payable 6,000 6,000 Common Stock 30,000 30,000 Retained Earnings 3,000 3,000 Dividends 3,000 3,000 Fees Earned 155,000 155,000 Wages Expense 63,000 63,000 Rent Expense 27,000 27,000 Depreciation Expense 15,000 15,000 Totals 237,000 237,000 105,000 155,000 132,000 82,000 Net Income (Loss) 50,000 50,000 155,000 155,000 132,000 132,000 The entry to close the dividends account would be
Business
1 answer:
Alexeev081 [22]3 years ago
4 0

Answer:

Explanation:

The retained earning are the earnings of the business organization which is earned until the date.

The net income or net loss would reflect in the statement of the retained earning account.

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

The journal entry is shown below:

Retained earnings A/c Dr $3,000

          To Dividend A/c $3,000

(Being dividend account is closed)

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DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive
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Answer:

Year Cashflow        [email protected]% PV

$                      $

0 (750,000)             1          (750,000)

1        350,000               0.9259    324,065

2       325,000               0.8573     278,623

3        250,000              0.7938      198.450

4        180,000               0.7350      132,300

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The correct answer is D. The difference in answers is due to rounding error.

Explanation:

Net present value is the diffrence between initial outlay and present value of inflow. We need to discount the cash inflows for year 1 to year 4 at 8% and then calculate the present value of cash inflows by multiplying the cash inflows by the discount factors. Finally, we will calculate NPV by deducting the initial outlay from the present value of cash inflows.

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The management of Furrow Corporation is considering dropping product L07E. Data from the company’s budget for the upcoming year
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Answer:

Sales                                                                              950,000

Less: Relevant cost:

Variable expenses                                                         380,000

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Contribution                                                                    175,000

The total profit of Furrow Corporation reduces by $175,000 if the product is discontinued.

Explanation:

In this question, there is need to determine contribution, which is the excess of sales over relevant costs. Relevant costs are comprised of variable cost and avoidable fixed costs. The product should not be discontinued since the contribution is positive. Deleting a product with positive contribution reduces the total profit of the company by the amount of positive contribution.

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$200 (million)

Explanation:

If the government spending increases by $200 million, then associated change in equilibrium income will be $ 200 million, assuming that Marginal Propensity to Consume (MPC) is 1

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____ has experienced a rapid increase in the use of credit cards for purchase?
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