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sweet-ann [11.9K]
3 years ago
12

A company had a beginning balance in retained earnings of $44,300. It had net income of $7,300 and paid out cash dividends of $5

,950 in the current period. The ending balance in retained earnings equals:
Business
1 answer:
Anit [1.1K]3 years ago
3 0

Answer:

$45,650

Explanation:

a) Calculations of Retained Earnings:

Beginning balance = $44,300

Net Income =                 7,300

less Dividends             -5,950

Ending balance =     $45,650

b) A statement of changes in Retained Earnings is always prepared to include the net income available for distribution to stockholders and exclude the distributions already made to stockholders in the form of dividends before arriving at the ending balance of Retained Earnings.  This later figure is reported in the Balance Sheet.  This process is also part of the closing entries of temporary accounts to permanent accounts at the end of an accounting period.

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As seen on an income statement:
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Answer:

b. depreciation reduces both the pretax income and the net income.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

An income statement comprises of the financial information about the income and expenses of an organization over a specific period of time.

Depreciation can be defined as the reduction of cost of a fixed asset systematically until the value of the asset becomes zero.

The Modified Accelerated Cost Recovery System (MACRS) can be defined as a depreciation system that avails business owners or companies the ability and opportunity to recover or recoup the cost basis of physical assets that have experienced deterioration over a specific period of time.

In the United States of America, the Modified Accelerated Cost Recovery System (MACRS) is used mainly for tax purposes because it gives room for faster depreciation of a physical asset in its first years or initial usage and reduces depreciation as it is being used over a long period of time.

Generally, it can be deduced from an income statement that depreciation reduces both the pretax income and the net income of a business firm or an organization.

8 0
2 years ago
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Artifacts reflecting values of an organization include Select one: a. Mission statements b. An office layout that includes open
nordsb [41]

Answer:

The correct answer to the following question is option B) an office layout that includes open spaces.

Explanation:

It is often said that an organizations culture could be seen through various ways and one of them is observable artifacts, which represents a organizations attitude, it's belief and anything that might be considered meaningful like behavior. These artifacts may include a organizations physical surroundings like its interior design, landscape etc and in this case its open spaces in office layout, and other might be technologies , product, rituals etc.

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3 years ago
You find a zero coupon bond with a par value of $10,000 and 13 years to maturity. If the yield to maturity on this bond is 4.7 p
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Answer:

Future Value= $10,000

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PMT=0

PV=?

Enter these in a financial calculator

$5,466.59

Explanation:

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3 years ago
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ZanzabumX [31]

Answer:

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If you compare those numbers with the national average, the US median household income is $60,336 (the national average is $1,130 higher than the Texas median household income). Historically the Texas median household income has been lower than the national average.

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Answer:

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This method allows us to know the direction and speed of the changes that have occurred in the financial situation of the company over time, so it is considered as a method of horizontal analysis.

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