Need help on financial reporting mid term exam!

A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of

snow_lady [41]

Answer:

Ending retained earning will be $433750

Explanation:

We have given beginning balance = $430000

Net income = $60000

Dividend paid = $56250

We have to find the ending balance

We know that ending retained earning is given by

Ending retained earning = beginning retained earning + net income - dividend paid

So Ending retained earning = $430000+$60000-$56250 = $433750

6 0

4 years ago

Lisa and lena own a shop together. they are partners in their business of 2 years. lisa is a designer; lena is a seamstress. lis

Ratling [72]

The agent of Lisa would likely tell her about the process and the rules in regards of the disability buy and sell insurance. The agent would likely explain that if she acquired this type, the insured person would likely be protected when the person has exhibit a disability and that having this type of insurance have benefits and are likely to be tax free.

8 0

3 years ago

Bade Midwifery's cost formula for its wages and salaries is $1,420 per month plus $246 per birth. For the month of October, the

saul85 [17]

Answer:

activity variance = $984 F

Explanation:

given data

wages and salaries = $1,420 per month

per birth = $246

planned for activity = 107 births

actual level of activity = 103 births

actual wages and salaries = $27,795

to find out

activity variance for wages and salaries

solution

we know wages and salaries cost for October is

wages and salaries Planning budget = 1420 + ( 107 × 246 )

wages and salaries Planning budget = $27742

and

Wages and salaries Flexible budget = 1420 + ( 103 × 246 )

Wages and salaries Flexible budget = $26758

so

activity variance = $27742 - $26758

activity variance = $984 F

4 0

4 years ago

Easywriter manufactures an erasable ballpoint pen, which sells for $1.75 per unit. management recently finished analyzing the re

maxonik [38]

a. 50 cents

Contribution margin per unit is price per unit- variable cost per unit

1.75 - ($50,000/40,000 units)

1.75 - 1.25 = $ .50

b. $8750

Margin of safety is the expected sales - break even sales

(45,000 units * $1.75 per unit) - (40,000 *1.75)

78,750 - 70,000 = $8750

6 0

3 years ago

A company's employee database includes each employee's compensation. a) is this variable discrete or continuous? b) what ar

il63 [147K]

<span>A company's employee database includes each employee's compensation.

Part a)

An employees compensation is a continuous variable because it can take fractional values.

Monetary values doest have to be an integer it also takes decimal values.

Part b)

The possible values it can take on are any value in the interval of compensations for the employee's level.</span>

4 0

3 years ago