Answer:
What is the balance in retained earnings at the end of May? $294000
Explanation:
may-01 Retaining earning 282000
Income 16000
Dividens Paid -4000
may-30 Retaining earning 294000
Revenue 40000
Expenses24000
Income 16000
I think it’s A not sure tho
Answer:
b. credit to Gain on Sale of Investments for $2,400.
Explanation:
May 1, 20Y6
Purchase price of Bond = $100
Number of Bond Purchased = $100,000 / 100 = 1,000 per bond
February 1, 20Y7
Sale Price of Bond = $103 per Bond
Gain on Sale = $103 - $100 = $3 per bond
Number of Bond Sold = $80,000 / 100 = 800 bonds
Gain on sold bonds = 800 bonds x $3 per bond = $2,400
Journal Entry Will be as follows:
Dr. Cr.
Cash (800 x 103) $82,400
Gain on sale $2,400
Investment in Bond $80,000
Answer:
The answer is moral minimun.
Explanation:
The moral minimun is the less acceptable standard for ethical business behavior. Normally considered to be compliance with the law.
In other words, is the minimum degree of ethical behavior expected of a business firm, which is usually defined as compliance with the law.
Answer:
D) $60,000
Explanation:
Loss which Karen can report on her tax return will be 50% of the loss for the year = 50% of $ 120,000 = $ 60,000
