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iren2701 [21]
3 years ago
13

High Step Shoes, had annual revenues of $185,000, expenses of $103,700, and paid dividends of $18,000 during the current year. T

he retained earnings account before closing had a balance of $297,000. The Net Income for the year is:
Business
1 answer:
Alenkasestr [34]3 years ago
7 0

Answer:

Explanation:

Calculation of ending retained earnings balance after closing:

The balance in ending retained earnings after closing can be calculated as follows:

Balance in retained earnings account before closing $297,000

Add: Revenues $185,000

Less: Expenses $103,700

Less: Dividends $18,000

Ending retained earnings balance after closing = $360,300

Hence, The balance in ending retained earnings after closing is $360,300

Read more on Brainly.com - brainly.com/question/11147060#readmore

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storchak [24]

The amount of the full retail gasoline sales in Germany that yr:

The first factor out that fuel tax is 20.4 of a hundred and seventy billion, which means we do have around 34 billion. Now: within the first graph fuel sales were 70.7. This % 70.7 of 34 billion = around 50 billion. E is the answer.

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2 years ago
Think of an example of a time during the last month when you should have used critical thinking skills but did not . What was th
Anna35 [415]
This app requested me to answer this question to get points but sorry idk the answer cs im in 6th
6 0
3 years ago
9. Should all poetry, music or art be beautiful? Explain.
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3 years ago
The ______________ of estimating bad debts expense involves a detailed listing of each customer's outstanding account and its le
Vedmedyk [2.9K]

Answer:

Aging of accounts receivable method.

Explanation:

Accounts receivable are the payments owed to a business by its customers. Bad debt occurs when there is uncertainty that an account receivable will be recovered.

The accounts receivable aging method is used to classify debts based on on the length of time past due.

Classifications such as are based on length of time past due and when to time past due is too long it will be considered to be a loss.

Lengths of time used include: 1-30 days past due, 31-60 days past due, 61-90 days past due, 91-120 days past due, and greater than 120 days past due.

6 0
3 years ago
g Hochberg Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool To
iogann1982 [59]

Answer: $2.81 per machine hour

Explanation:

Wages and salaries $ 423,000

Activity cost pools 10%

Allocated amount = 10% of $423000

= 0.1 × 423000

= $42,300

Depreciation = $112,000

Activity cost pools 10%

Allocated amount = 10% of 112,000

= 0.1 × 112000

= $11200

Occupancy 154,000

Activity cost pools 20%

Allocated amount = 20% of 154000

= 0.2 × 154000

= $30800

Total allocated amount = $42300 + $11200 + $30800 = $84300

The cost hour is the machine hour which is 30,000

Rate per machine hour = total allocated amount/machine hour

= 84300/30000

= $2.81 per machine hour

6 0
3 years ago
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