Answer:
$15,000
Explanation:
Closing retained earnings is the accumulated value of an entity`s profit reserve from its earnings from both current and past accounting periods.Closing retained earnings is calculated by deducting dividend paid from earnings after tax of the current year and adding the balance to opening retained earnings.
= Opening retained earnings + (Earnings after tax - Dividend paid)
Based on the information supplied, the closing retained earnings will be:
$
Service Revenue 10,000
Total Expenses (6,000)
Operating profit 4,000
Dividend <u> (1,000)</u>
Retained Earnings 3,000
Retained Earnings b/f <u> 12,000</u>
Closing Retained Earnings <u> 15,000</u>
Note: No information in regard of tax, so the operating profit is used as profit after tax.
Answer:
e. $ 282,000
Explanation:
To determine the assets of the company at year end, we need to find the equity at year end, this is calculated as follows:
Opening Equity $ 145,000
Net Income for the year $ 45,000
Revenues $ 210,000
Expenses $ 165,000
Equity at end of year $ 190,000
The accounting equation is
Assets = Liabilities + Stockholders' Equity
Assets = $ 92,000 + $ 190,000 $ 282,000
<u>90% </u>of a manufacturer's profit and income comes from repeated purchases from returning customers.
<h3>What is Lifetime Customer Value (LCV)?</h3>
Lifetime Customer Value is the entire contribution of a customer to a brand or business enterprise over the course of their relationship.
It's an essential metric since keeping returning customers requires less than acquiring new ones, thus improving the value of your existing customers is an excellent strategy to generate growth and profit.
Therefore, we can conclude that <u>90% </u>of a manufacturer's profit and income comes from repeated purchases from returning customers.
Learn more about Lifetime customer value here:
brainly.com/question/26483324
Answer:
(A) Are an integral part of a company's financial statements.
Explanation:
The company financial statement involves income statement, statement of stockholder equity, balance sheet, and the cash flow statement
The disclosure notes contain the important facts and figures which are required to disclose it as it reveals the crucial information which might change the decision of the users and it cannot be shown elsewhere in the financial statement