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Nitella [24]
3 years ago
14

The Retained earnings account has a credit balance of $34,000 before closing entries are made. If total revenues for the period

are $105,200, total expenses are $77,800, and dividends are $18,000, what is the ending balance in the Retained earnings account after all closing entries are made
Business
2 answers:
Mnenie [13.5K]3 years ago
7 0

Answer:

$43,400

Explanation:

Retained Earning is the accumulated balance of all the prior year's income / losses after paying all the dividend. This balance can be used for the dividend payment or reinvestment in the business.

As per given data

Retained Earning = $34,000

Adjustments

Net Income =Revenue - Total Expenses = $105,200 - $77,800 = $27,400

Dividend Payment = $18,000

Additions to Retained Earning = $27,400 - $18,000 = $9,400

Adjusted balance of Retained Earning = $34,000 + $9,400 = $43,400

nevsk [136]3 years ago
4 0

Answer:

The ending balance of retained earnings account is $43,400.

Explanation:

Simply put, retained earnings are an amount of net income left after payment of dividends to shareholders. This amount accumulates over time period as the company retains profit for its operations. Usually, it is arrived at using the formula below:

Retained earnings = Opening balance + Net income (or loss) - Cash dividends - Stock dividends

At the instance of the question, retained earnings = $34,000 + $27,400 ($105,200 - $77,800) - $18,000 = $43,400.

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A country's central bank uses a set of instruments called monetary policy to regulate the total amount of money in circulation, foster economic expansion, and implement measures like adjusting interest rates and altering bank reserve requirements.

The Federal Reserve Bank of the United States carries out a monetary policy under a twin mandate to maximise employment while containing inflation.

A nation's overall money supply is managed by monetary policy, which also aims to promote economic growth.

Interest rate changes and adjustments to bank reserve requirements are examples of monetary policy strategies.

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6 0
2 years ago
Seven months ago, you purchased 140 shares of Mitchum Trading for $50.07 per share. The stock pays a quarterly dividend of $.17
sesenic [268]

Answer:

The answer is $47.6

Explanation:

Solution

Given that

You bought = 140 shares of  Mitchum Trading for $50.07  per share

The quarterly dividend = $.17

The current price = $51.03

So we find the total dividend income you received which is computed below:

The total dividend received = (0.17 * 2) * 140

=(0.34) * 140

= $47.6

Therefore the total dividend of income that you received is $47.6

4 0
3 years ago
Investors are willing to purchase stocks having high P/E ratios because:
skelet666 [1.2K]

Answer:

D. They expect these shares to have greater growth opportunities.

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A HIGHER PRICE TO EARNING RATIO INDICATES THAT THE COMPANY INVOLVED IS EFFICIENTLY UTILIZING ITS RESOURCES IN ORDER TO GENERATE PROFIT,IT ALSO SHOWS THAT THEIR IS HIGH DEMAND FOR THE COMPANY'S SHARES BECAUSE INVESTORS TRUST IN THE COMPANY'S ABILITY TO GROW AND MAKE PROFIT.

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3 years ago
The three goals of sustainable development that include economic, environmental, and ethical sustainability are referred to as t
kiruha [24]

Answer:

The three main pillar of sustainability

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The three main pillars of sustainability include economic, environmental and social.

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3 0
3 years ago
Read 2 more answers
At Bapostsyl, a telecommunications company, marketing managers are hired after testing their strategic thinking capabilities thr
user100 [1]

Answer:

B) assessment centers

Explanation:

Since in the question it is mentioned that the company could hired marketing managers after testing their strategic thinking  by providing the job description i.e any task designed to provide you with an realistic summary of the day-to-day tasks you are interviewing.

So according to the given situation, the company uses the assessment centers so that they could analyze the individual performance at the time of interview

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3 years ago
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