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ryzh [129]
3 years ago
14

Splish Corporation has retained earnings of $707,000 at January 1, 2020. Net income during 2020 was $1,428,500, and cash dividen

ds declared and paid during 2020 totaled $85,000. Prepare a retained earnings statement for the year ended December 31, 2020. (List items that increase retained earnings first.)
Business
1 answer:
BartSMP [9]3 years ago
5 0

Answer:

Explanation:

Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer  fro the year, dividend paid during the year etc.

                    Splish Corporation

           Retained Earning Statement

  for the year ended December 31, 2020

                                                                          $

Retained Earning at January 1, 2020           707,000

Less: Cash Dividend paid during 2020       85,000

Add: Net Income for the year 2020             <u>1,428,500</u>

Retained Earning ath December 31 2020   <u>2,050,500</u>

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When companies set their dividend payout, they generally aim for a rate that is?
Svet_ta [14]
The companies set their dividend payout, they generally aim for a rate that is when it is sustainable. <span>The </span>dividend payout<span> ratio is the amount of </span>dividends<span> paid to stockholders relative to the amount of total net income of a company. The amount that is not paid out in </span>dividends<span> to stockholders is held by the company for growth. The amount that is kept by the company is called retained earnings.</span>
8 0
3 years ago
Cirrus Aircraft, a leading manufacturer of small airplanes, sees a market opportunity and has decided to double its plant capaci
Westkost [7]

Answer:

B. A strategic action because such a large plant expansion will require a major commitment of resources.

Explanation:

There are two major forms of action in business decision making: strategic and tactical. Strategic action deals with decision that require major planning and investment of resource. Strategic actions have long term implementation and effect and are difficult to reverse.

Tactical actions, on the other hand, are flexible and involves actions taken on short term basis. Tactical actions are majorly bye-product of strategic decision.

On this note, Circus Aircraft`s  decision to double its plant capacity over the next two years is a strategic action because such a large plant expansion will require a major commitment of resources. And the action will not easily reversible.

Other options in the question are not totally right.

7 0
3 years ago
On January 1, 2022, Austin Company received a 12-month, $100,000 note with a stated rate of 7%. On April 30, 2022, Austin discou
Olin [163]

Answer:

$101,293

Explanation:

$100,000 face amount + $7,000 interest to maturity ($100,000 x 7%) = maturity value less the discount for the time remaining to maturity of $5,707 ($107,000 x 8% x 8/12) = $101,293

8 0
2 years ago
Serena's financial goal is to reduce debt. Which statement could make Serena's financial goal specific and timely?
dimaraw [331]
B. Serena should focus on a certain amount and track her spending
5 0
3 years ago
you deposit $3000 each year into an account earning 4% interest compounded annually. how much will you have in the account in 30
Elan Coil [88]

The final balance is ₹9,730.2. The total compound interest is ₹6,730.2. If the deposit is  $3000 each year and 4% interest.

<h3>How to calculate compound interest ?</h3>

Compound interest is the addition of interest to the principal sum of a loan or deposit, or interest on interest plus interest.

The formula for annual compound interest is as follows:

FV = P (1+ r/m)^mt

FV - the future value of the investment, in our calculator it is the final balance

P - the initial balance

r - the annual interest rate

m - the number of times the interest is compounded per year

t - the numbers of years the money is invested for

initial balance P = $3000

number of years t = 30

Interest rate r = 4%

interest is compounded m = 1

The value of your investment after 30 years FV = ₹9,730.2

The profit will be FV - P = ₹9,730.2 - $3000 = $6,730.2

The final balance is ₹9,730.2.

The total compound interest is ₹6,730.2.

To learn more about compound interest refer :

brainly.com/question/24274034

#SPJ4

8 0
1 year ago
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