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
lesantik [10]
3 years ago
5

ABC had a net income of $8,000, $5,000, $12,000, and $10,000 over the first four years of the company's existence. If the averag

e annual amount of dividends paid over the last four years is $3,000, what is the ending retained earnings balance?
A) $35,000.
B) $23,000.
C) $7,000.
D) $47,000.
Business
1 answer:
Nezavi [6.7K]3 years ago
4 0

Answer:

B) $23,000.

Explanation:

ABC's accumulated net income (or retained earnings) over the past four years = $8,000 + $5,000 + $12,000 + $10,000 = $35,000

ABC's accumulated dividends paid over the past four years = $3,000 x 4 = $12,000

Since dividends are paid using money that proceeds from retained earnings, the balance of the retained earnings account = accumulated retained earnings - accumulated dividends = $35,000 - $12,000 = $23,000

You might be interested in
What should you do if you suspect your boss of unethical business practices?
Zina [86]

The other day, someone asked me about the last time my ethics had been tested at work and how I reacted.

I wasn’t sure how to respond. It’s a good question, and I wanted to answer it. Still, I hesitated to reveal too much about some of the less-than-honest bosses I’ve reported to in the last two decades.

These are bosses who lied, gossiped about their staff to other staff, broke confidences, fudged numbers to governmental agencies, botched payroll tax withholdings and covered it up, and willfully and recklessly turned a blind eye to leadership abuse — for starters.

8 0
3 years ago
Read 2 more answers
During the first month of​ operations, ​, ​Inc., completed the following​ transactions:
forsale [732]

Answer:

General Ledger

Jul 2

Cash $68,000 (debit)

Common Stock $68,000 (credit)

<em>Cash received in exchange for common stock</em>

Jul 3

Supplies $700 (debit)

Equipment $11,800 (debit)

Accounts Payable $12,500 (credit)

<em>Supplies and Equipment purchased on credit</em>

Jul 4

Cash $5,400 (debit)

Service Revenue $5,400 (credit)

<em>Cash received for service rendered</em>

Jul 7

Land $33,000 (debit)

Cash $33,000 (credit)

<em>Cash paid for acquisition of Land</em>

Jul 11

Accounts Receivable $4.100 (debit)

Service Revenue $4.100 (credit)

<em>Service rendered on credit</em>

Jul 16

Accounts Payable $11,800 (debit)

Cash $11,800 (credit)

<em>Settlement of Account Receivable</em>

Jul 17

Advertising Expense $570 (debit)

Cash $570 (credit)

<em>Cash paid for Advertising</em>

Jul 18

Cash $2,000 (debit)

Account Receivable $2,000 (credit)

<em>Cash received from Account Receivable</em>

Jul 22

Water and Electricity Expenses $400 (debit)

Cash $400 (credit)

<em>Cash paid for utilities</em>

Jul 29

Cash $2.700 (debit)

Service Revenue $2.700 (credit)

<em>Cash received for Services Rendered</em>

Jul 31

Salaries Expenses $2,300 (debit)

Cash $2,300 (credit)

<em>Cash paid for Salaries</em>

Jul 2

Dividends $2,500 (debit)

Cash $2,500 (credit)

<em>Dividends paid in cash</em>

Explanation:

See the Journals and narrations that i have prepared above.

4 0
3 years ago
On January 1, 20X5, Blaugh Co. signed a long-term lease for an office building. The terms of the lease required Blaugh to pay $1
umka2103 [35]

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

4 0
2 years ago
What are three ways that young people in your community can volunteer their time?
zalisa [80]
Cleaning up a park, free car wash, volunteer at the soup  kitchen
3 0
3 years ago
Read 2 more answers
In circumstances in which there is a labor union, employees may have to
nadya68 [22]

Answer:

allow another person to negotiate their salary

Explanation:

<em>The correct answer would be that employees may have to allow another person to negotiate their salary.</em>

<u>This is because the leaders of labor unions are representatives of employees when it comes to negotiations with the management of the company. They directly or indirectly represent the interests of all employees.</u>

It is virtually not possible for each employee to negotiate their salary, especially in organizations with a large workforce. The labor leaders hold a meeting with all employees and then represent employees at the negotiation table.

5 0
3 years ago
Other questions:
  • Henry runs moonlight café, a world renowned fast-food restaurant, in his locality. he started the restaurant after getting a lic
    14·1 answer
  • TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns.
    9·1 answer
  • In 3 or 4 sentences, explain how increasing the money supply can result in economic growth.
    13·1 answer
  • The model of monopolistic competition can characterize the market for plumbing services in a city. Suppose that the market is in
    13·1 answer
  • An article in the Wall Street Journal noted that the demand for video Internet advertising was increasing at the same time that
    5·1 answer
  • ABC provides music for special occasions. On January 14, the Smith family hired ABC for an upcoming family wedding for an agreed
    13·1 answer
  • I need help!!
    11·1 answer
  • Michonne Corp.'s Free Cash Flow (FCF) for the most recent year (year 0) is $730 (million). FCF is expected to grow by 14% next y
    13·1 answer
  • Insolvency occurs when liabilities far exceed available assets.
    14·1 answer
  • Because of the increased bulkiness of the anterior abdomen and the change in a pregnant woman's center of gravity, what type of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!