1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Which is an example of a long-term goal? Group of answer choices I will pay my cell phone bill on time this month. I will train
Nikolay [14]

Answer:

The example of a long-term goal is, I will train for a marathon.

Explanation:

This is a long-term goals because you train and reach it in a long period of time. The others will be counted as a Short-term goal. I hope this helped! :D

4 0
3 years ago
Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $200,000 with equal p
astra-53 [7]

Answer:

$118,421

Explanation:

first we must calculate the expected value of the risky portfolio = ($70,000 x 0.5) + ($200,000 x 0.5) = $135,000

since your risk premium is 8% and the risk free rate is 6%m then you should discount the expected value by 8% + 6% = 14% to determine its current market price

= $135,000 / (1 + 14%) = $118,421

7 0
3 years ago
Imagine you are looking at a bottle of salad dressing containing oil, vinegar, and water. you notice that the oil sits on "top"
user100 [1]
The oil is denser 
the water and vinegar are not as dense 
4 0
3 years ago
Which of the following correctly describes globalization
kondor19780726 [428]

what is your question ??

I think u have missed some parts here in the question ..

5 0
2 years ago
When a distributor is involved in international trade, there are two sets of invoices: one set between the exporter and the dist
Tanzania [10]

Answer:

A. True

Explanation:

Invoices also called bills in accounting is used for recording sales transactions and to account for requests and receipts for payments.

If a distributor becomes involved in trade beyond national borders, Two sets of invoices are used. The international trade invoices (1st set of invoices) being the transaction details between the seller (exporter from other country) and the buyer who is the distributor (importer). While the local or domestic involves (2nd set of invoices) would show transaction details between the distributor (who's now the seller) and the buyers or customers.

This happens because the two transactions are separate containing separate information of seller's and buyer's name, addresses, contacts details, tariffs or taxes and so on.

8 0
3 years ago
Other questions:
  • Stock in ABC Enterprises has a beta of 1.28. The market risk premium is 7.4 percent, and T-bills are currently yielding 3.6 perc
    9·1 answer
  • In a management trainee program, 80% of the trainees are female, while 20% are male. ninety percent of the females attended coll
    15·1 answer
  • You originally required a risk premium of 6 percent in addition to the rate of return on safe assets before you would purchase s
    13·2 answers
  • Juan, the owner of Quality Catering, is driven by competition. He is very focused on meeting deadlines and quality, and on deliv
    9·1 answer
  • Procuring materials and refining those materials into finished projects to distribute to retail outlets are activities handled b
    5·1 answer
  • Mike takes a card out of his wallet at the grocery store and swipes it to pay for his groceries. What did Mike use?
    13·2 answers
  • Sell or Process Further Port Allen Chemical Company processes raw material D into joint products E and F. Raw material D costs $
    7·1 answer
  • This introduces an applicant and the applicant’s résumé to a potential employer: a. Personal Goal Statement b. Cover Letter c. J
    5·2 answers
  • In addition to major academic indicators, highly selective schools review:
    5·2 answers
  • What are the keys to active learning ?
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!