1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
11Alexandr11 [23.1K]
3 years ago
11

The following account balances relate to the stockholders’ equity accounts of Skysong, Inc. at year-end. 2020 2019 Common stock,

10,500 and 10,000 shares, respectively, for 2020 and 2019 $155,300 $145,000 Preferred stock, 5,000 shares 159,000 159,000 Retained earnings 305,000 249,100 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $11,300 and increase common stock by $11,300. Cash dividends were $17,000 in both 2020 and 2019. The common stock has no par or stated value. (a) What was the amount of net income reported by Skysong, Inc. in 2020? Net income $
Business
1 answer:
balandron [24]3 years ago
6 0

Answer:

$84,200

Explanation:

The Net Income for the 2020 financial period can be calculated through the Retained Earnings Account for 2020 as follows :

Retained Earnings at beginning  of the year                               $249,100

Add Net Income for the year (Balancing figure)                          $84,200

Less Dividend Declared for the year ($11,300+$17,000)            ($28,300)

Retained Earnings at end  of the year                                         $305,000

You might be interested in
Why is the feedback loop important? Multiple Choice It looks at what is working and what could be different to maximize efficien
nydimaria [60]

Answer:

The answer is: It monitors progress so that corrective action can take place.

Explanation:

A positive feedback loop takes place when the company pays attention and listens to its employees' complaints or problems. Then it uses that feedback to improve workplace satisfaction and/or structural problems within the organization.

The goal is to increase workplace satisfaction, and as a result increase the employees' efficiency, increasing the organization's profits.

5 0
3 years ago
When mcdonald’s introduced its low-fat mclean deluxe hamburger, it used __________ to avoid direct competition with wendy’s and
Anni [7]
The appropriate response is differentiation positioning. Differentiation positioning includes looking for a less aggressive, littler market specialty in which to find a brand. Situating and separation are firmly related promoting methodologies. Situating is your procedure for passing on what makes your organization or items greater, diverse or superior to those offered by contenders.
8 0
3 years ago
Identify which of the following statements is true.
JulijaS [17]

Answer:

A.

Explanation:

Organizational expense amortized over fifteen years for purposes of determining taxable income results in an upper adjustment in the initial years to book income on the Schedule Minus−1 when the expense is being amortized over ten years for book income purposes.

4 0
3 years ago
Which of the following would be a producer? someone owning a book store someone shopping in a grocery store someone putting gas
Luba_88 [7]

Example of a producer can be regarded as someone owning a book store .

<h3>Who is a producer?</h3>

A producer can be regarded as a manufacturer of a particular product or service.

Therefore, in the case above, a producer serves as the one that own the shop, however he can decide to distribute his products to retailer.

Learn more about producer at;

brainly.com/question/12441980

#SPJ4

4 0
2 years ago
The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay tolls at various poi
slamgirl [31]

Answer: Private good

Explanation:

  According to the given scenario, the Pennsylvania Turnpike is classified the private type of good on the basis of given situation as private good is one of the type of goods that must be purchased by the customers due to its positive advantages or benefits.

The private goods are consumed by the customer in maximum amount in the market as it is one of the essential type of good as it is Rivalry and excludability.  

The following are some example of the private goods are as follows:

  • Food
  • Clothes
  • Fresh air
  • Knowledge

 Therefore, Private good is the correct answer.   

 

4 0
3 years ago
Other questions:
  • You have a credit card with a balance of $10,900 and an APR of 17.1 percent compounded monthly. You have been making monthly pay
    9·2 answers
  • Jeremy runs a SCUBA diving shop in Cozumel, Mexico. Jeremy has tailored his diving operation to serve serious divers preferring
    12·1 answer
  • Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. During
    9·1 answer
  • The coordinating conjunctions that can be used to combine two complete sentences with a comma are âfor, and, nor, but, or, yet,
    5·1 answer
  • Accounting standard-setters use the following process in establishing accounting standards
    6·1 answer
  • which circumstance is most likely to cause a farmer to store soybeans for a future sale instead of selling them right after harv
    12·1 answer
  • If prices rise over​ time, then real GDP will be A. smaller than nominal GDP in years before the base year. B. larger than nomin
    9·1 answer
  • Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.21 per hour. 2. Determin
    10·1 answer
  • Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of ber
    7·1 answer
  • Doing something without being told; willingness to get things done and taking responsibility; taking action when necessary is ca
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!