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lapo4ka [179]
3 years ago
6

Lena Company has provided the following data (gnore income taxes); 2016 revenues were $77,000. 2016 expenses were $48,600. Divid

ends declared and paid during 2016 totaled $7,700. Total assets at December 31, 2016 were $185,000. Total liabilities at December 31, 2016 were $105,000. Common stock at December 31, 2016 was $27,000. Which of the following is correct? a. 2016 net income was $20,700 b. Retained earnings at December 31, 2016 were $20.700. c. Total stockholders' equity at December 31, 2016 was $244.000. d. Retained earnings at December 31, 2016 were $53,000.
Business
1 answer:
Ilya [14]3 years ago
5 0

Answer:

Option (b) is correct.

Explanation:

(a) Net Income:

= Revenues - Expenses

= $77,000 - $48,600

= $ 28,400

(b) Retained earnings :

= Net Income - Dividend

= $ 28,400 - $7,700

= $20,700

(c) Stockholders' Equity:

= Total assets - Total Liabilities

= 185,000 - $105,000

= $80,000

Therefore, the retained earnings at December 31, 2016 were $20,700.

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ZanzabumX [31]

Answer:

Loss on putting for long time = $300 (Loss )

Explanation:

Given:

Strike price = $120

Stock price = $123

Premium amount = $3 per share

Realize on investment = ?

Computation of realizing on investment:

Given that strike price is lower than the stock price, So premium paid considers as a loss.

Loss on putting for long time = $3 × 100

Loss on putting for long time = $300 (Loss )

7 0
3 years ago
1.
Ksenya-84 [330]

Answer:

i dont know

Explanation:

and i dont care

8 0
4 years ago
Innovation and enterprise can help to develop new and niche markets - True or False?
umka21 [38]

Answer:

True.

Explanation:

A radical innovation also known as the disruptive innovation is an innovative approach aimed at destroying or supplanting old business strategies and models with an invention to breakthrough and change the whole industries by creating new products.

Hence, an innovation and enterprise can help to develop new and niche markets as the business would be starting afresh and offering new products and services to meet the unending needs or requirements of its customers.

3 0
3 years ago
Live Trap Corporation received the data below for its rodent cage production unit.
Paha777 [63]

Answer:

Explanation:

Total output = output cages* sales price  = 50500 cages * $3.40 per unit =   =  $ 171,700    

Total Input:    

Wages = 630 labor hours * $7.40 = $4,662  

Raw materials = $ 31,000  

Components = $ 15,450  

Total input $51,112  [Add up wages, components and raw materials]

1) Total productivity in units sold = Output in units / Input in dollars

=50500 cages/$51,112    

=0.99 per dollar input  

2) Total productivity in dollars= Output in dollars / Input  

=$171,700/51,112 = $ 3.36 per unit input  

5 0
3 years ago
Purdum Farms borrowed $14 million by signing a five-year note on December 31, 2017. Repayments of the principal are payable annu
Korolek [52]

Answer and Explanation:

The amount that should be reported as the current liabilities and long term liabilities is shown below:

The borrowed amount is $14 million

And, the installments is of $2.8 million each

He makes the first payment and then made the balance sheet

So, the current liability amount is $2.8 million

And, the long term liability amount is ($2.8 × 3 years) $8.4 million

So the same would be considered and relevant too

7 0
3 years ago
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