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earnstyle [38]
3 years ago
13

During 2017, its first year of operations, Jane's Bakery had revenues of $130,000 and expenses of $66,000. Retained earnings at

the beginning of 2017 were $0 and during 2017, the business paid cash dividends of $36,000 . What is the balance in Retained Earnings at December 31, 2017? $0 $36,000 $28,000 $64,000
Business
1 answer:
Phantasy [73]3 years ago
5 0

Answer:

$28,000

Explanation:

Ending retained earnings = beginning retained earning + current earnings - dividends paid out.

for Jane's Bakery,

Beginning retained earning 0,

Dividends : $36,000

earnings = revenues - expenses

earnings = $130,000 - $ 66,000

=64,000

ending retained earnings = 0+$64,000- $36,000

=$28,000

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As the vice president of sales for Dunder Mifflin, Inc., a company that manufactures and sells paper to commercial offices, it h
nirvana33 [79]

Answer: Create Focus Groups.

Explanation:

Creating a Focus group out of the Customers that use the Scranton branch would help Dunder Milfflin find out a more specific issue that they are complaining about.

Should customers be brought together and asked what they think should be done to improve service, you will find that many complaints are similar which would enable a better way to tackle the issue faster opposed to tackling each issue as they come.

This Focus Group method is very efficient and accurate as the problems come from the horse's mouth so to speak and Multiple problems can be then be found and categorized separately.

7 0
3 years ago
In 2019, Carson is claimed as a dependent on his parents' tax return. Carson's parents provided most of his support. What is Car
lana [24]

The tax laibility as calculated is $1036.

<u>Explanation:</u>

a.)  Carson earnings  $14000

Less: the Standard deduction  $12000

Taxable income  $2000  

Tax liability  $200

b.)  Carson earnings  $14000

Qualified dividend income  $5000

Gross income  $19000

less: Standard deduction  $12000

Taxable income  $7000

Taxable income taxed at carson rate  $2000

($7000 minus $5000)  

           Ordinary Tax  $200

Kiddie Tax is calculated as follows:  

Gross unearned income  

unearned income                             $5000

Kiddie tax up to 2600                          $260

Kiddie tax for over and above 2600  $576

                                                                     $836  

Total tax liability ($200 plus $836)           $1036

 

7 0
3 years ago
Describe the difference between a fixed-quantity (Q) and a fixed-period (P) inventory systems and provide an example for each.
sergeinik [125]

Answer and Explanation:

The fixed quantity inventory system, the quantity of an order or the lot size is fixed in nature i.e. the similar amount means the quantity is ordered each and every time. It could be managed by continonusly watching the level of inventory. Example - economic order quantity

On the other hand, the fixed period inventory system is a system in which the inventory is to be checked at fixed inventory. It is same as the periodic reveiw system instead of the continuous basis. Example - drugstore

7 0
3 years ago
Why should a team leader refer any serious conflicts to Human Resources or
vovikov84 [41]

Answer:

B

Explanation:

just did it

8 0
3 years ago
Hepner Corporation has the following stockholders' equity accounts:
OLga [1]

Answer:

$235,000

Explanation:

The computation of the goodwill amount attributed is shown below:

Common stock $1,660,000  

Preferred stock $630,000  

Non controlling interest in common stock $415,000  

Non controlling interest in preferred stock $270,000  

Fair value at acquisition date                 $2,975,000  

Book value  $2,740,000 (560,000 + $810,000 + $360,000 + $1,010,000)

Goodwill                        $235,000

5 0
3 years ago
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