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stiks02 [169]
2 years ago
9

The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed

the following:________.
Debit Credit
Cash 29,000
Land 56,000
Notes payable 32,400
Common stock 22,000
Retained earnings 15,800
Service revenue 62,000
Expenses 44,900
Dividends 2,300
Total $ 132,200 $ 132,200
What will the balance of the retained earnings account be after the closing entries are recorded?
Business
1 answer:
lesya692 [45]2 years ago
8 0

Answer: $30,600

Explanation:

First calculate the earnings for the year.

Revenue is given. Expenses are also given and come out of revenue. Dividends also come out of revenue as well.

Retained Earnings for the year is therefore,

Retained Earnings for the year = Revenue - Expenses - Dividends

= 62,000 - 44,900 - 2,300

Retained Earnings for the year = $14,800

This figure should be added to the retained earnings of the previous period to find the total balance.

= 14,800 + 15,800

= $30,600

$30,600 is the closing Balance on Retained Earnings after closing entries.

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Your broker suggests that the stock of DUH is a good purchase at $25. You do an analysis of the firm, determining that the recen
jarptica [38.1K]

Answer:

The correct answer is "$28.03".

Explanation:

The given values are:

Good purchase,

= $25

Dividend,

= $1.40

Annually earning,

= 5%

Beta coefficient,

= 1.3

Treasury bills,

= 1.4%

Now,

= 1.4+1.34\times 8-1.4

= 1.34\times 8

= 10.244 (%)

hence,

The fair value will be:

= 1.4\times \frac{1.05}{.10244}-.05

= 28.03

Absolutely, the proposal including its brokerage must be adopted because as fair market value was almost $25.

5 0
2 years ago
The Safe-T Airbag Company manufactures airbags that are used in automobiles. Fly Motor Company manufactures automobiles in which
melamori03 [73]

Answer:

(A)Requirements Contract

Explanation:

A requirements contract is defined as a contract in which one party agrees to supply as much good/service as desired by the other party. In exchange, the other party implicitly promises that it will obtain its goods or services exclusively from the first party.

Since Fly Motor Company agrees to purchase all the airbags it will need from Safe-T. Airbag company, the requirement of exclusive purchase is satisfied.

6 0
3 years ago
Maria is a hard-working college sophomore. One Sunday, she decides to work nonstop until she has answered 100 practice problems
sdas [7]

Answer:

The correct answers are:

i. The marginal, or additional, gain from Maria’s first hour of work, from 8:00 AM to 9:00 AM, is <u>  40  </u> problems.

ii. The marginal gain from Maria’s third hour of work, from 10:00 AM to 11:00 AM, is <u>   20   </u> problems

iii. 2 hours working on problems, 2 hours reading (c)

Explanation:

i. The marginal gain from 8:00 AM to 9:00 AM is calculated thus:

work done at 8:00 AM = 0 problems

Work done at 9:00 AM = 40 problems

Marginal gain = (Work done at 9:00 AM) - (work done at 8:00) = 40 - 0 = 40 problems

ii. work done at 10:00 AM = 70 problems

work done at 11:00 AM = 90 problems

Marginal gain = 90 - 70 = 20 problems

iii. To get the best exam score, the most number of problems possible in total must be answered within the 4-hour period, and this is determined as follows:

we are told that Maria gets tired as time progresses and the number of questions answered reduces we notice the following numbers of questions answered in each hour:

8:00 AM to 9:00 AM = 40 - 0 = 40 problems (hour 1)

9:00 AM to 10:00 AM = 70 - 40 = 30 problems (hour 2)

10:00 AM to 11:00 AM = 90 - 70 = 20 problems (hour 3)

11:00 AM to Noon = 100 - 90 = 10 problems (hour 4)

Also, we are told that;

1 hour of reading = 25 problems

Comparing the reading and solving problems, we see that the number of problems solved in hour-1 and hour-2  (40 and 30 respectively) are more than the equivalent number of problems solved in reading for 1 hour, while hour-3 and hour-4 (20 and 10 respectively), have lesser equivalent number of problems each, than reading for one hour. Therefore to make the most out of the 4 hours, Maria will spend the first 2 hours solving problems and the next two hours reading, giving a total of: 40 + 30 + 25 + 25 = 120 problems solved.

4 0
3 years ago
Nadal Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead base
Anna11 [10]

Answer:

C.$46,730

Explanation:

Nadal Corporation manufactures custom molds for use in the extrusion industry. Based on the data available we first see the formula to calculate the total manufacturing cost of the job 532.

In general, sum of all the cost directly or indirectly included in the manufacturing cost. Therefore the formula is as below

Total Manufacturing Cost = Direct Labor Cost + Direct Materials Cost + Manufacturing Overhead Cost.

Direct labor cost $36,800

Direct materials used $5,000

Predetermined manufacturing overhead rate based on machine hours $17  which is = $17 x 290 hours

Manufacturing cots= 4930$

Total Manufacturing Cost = 36800 + 5000 + 4930

Total Manufacturing Cost = 46,730$

3 0
3 years ago
What management function is to ensure that all factors of production are available to departments
artcher [175]
Production planning ,production control , quality and cost control and inventory control
5 0
2 years ago
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