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
Which one of the following is NOT one of the major business functions or specialized tasks performed by business organizations a
mina [271]
Answer is E

This a process which engages working people through union. They negotiated a contract with owner& the employers to get information details about the term of employment like pay, benefits, house leves,,health, safety policies.

Help to ensure balance work and personal relationship.

Sale HR financial and production are important business functions & supported heavily by information systems.

Collective bargaining is a negotiating process not core business function or specialised task.
8 0
3 years ago
White Inc. reports a taxable and financial loss of $750,000 for 2017. Its pretax financial income for the last two years was as
OleMash [197]

Answer: $525,000 loss

Explanation:

2017 taxable and financial loss = $750,000

Pretax financial income :

2015 - $300,000

2016 - $400,000

Assuming white Inc uses the carry back provision;

With tax rate for all affected period being 30%

$750,000 - (30% of $750,000)

$750,000 - (0.3 × $750,000)

$750,000 - $225,000

= $525,000 loss

3 0
3 years ago
Ugo's promotion to regional manager at sears with a higher salary and more prestige is an example of what type of vertical socia
ddd [48]
<span>This is an example of ascending vertical social mobility because he is going upward. He is getting a higher position with more money. He is going up the ladder rather than being demoted downward to something lower.</span>
7 0
3 years ago
Which are duties of OSHA? Check all that apply.
Morgarella [4.7K]

The correct answer is A and C.

A. Investigating worker complaints.

C. Inspecting businesses.

OSHA it is an agency which protects the workers.

It is occupational safety and health administration.

Its work is to make sure that there is healthful and safety working conditions for both women and men.

It does its work by enforcing and setting standards, assistance and education, outreach and provide training for the workers.

6 0
3 years ago
Read 2 more answers
Do you really think reseller partners will help out to uplift the factors of macro environment?
Tamiku [17]

Answer:

yes

Explanation:

4 0
3 years ago
Other questions:
  • Georgette has always thought she and Ted had the perfect marriage. Every time they disagree, she pushes for her side, and he wan
    12·1 answer
  • Suppose that a profit-maximizing monopoly firm undergoes a substantial technological change that reduces its marginal and averag
    11·1 answer
  • Describe how a job interview is affected by your clothing and body language in complete sentences.
    6·1 answer
  • If the number of employed is 220,000, the labor force is 250,000, the number of discouraged workers is 15,000, and the number of
    13·1 answer
  • Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the matur
    11·2 answers
  • Malik has two options this weekend. He could work at his job and earn $9 per hour for three hours, or he could got o a show at t
    6·1 answer
  • Gabriella and Juanita form Luster Corporation. Gabriella transfers cash of $50,000 for 50 shares of stock, while Juanita transfe
    11·1 answer
  • Which reporting app is included with QuickBooks Online Advanced Subscription?
    11·2 answers
  • An investment has an initial cost of $2.7 million and net income of $189,400, $178,600, and $172,500 for Years 1 to 3. The avera
    5·1 answer
  • Presented below is information related to Wildhorse Department Stores, Inc. pension plan for 2021. Accumulated benefit obligatio
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!