Answer: a) Option A
Explanation:
There will be no effect on retained earnings because retained earnings do not increase as a result of shares being sold. It increases when net income increases.
Total paid-in capital increases when stock is sold for higher than its par value or when treasury stock is sold for higher than its acquisition price. The treasury stock here was sold for higher than it was bought so this would increase the total paid in capital.
Answer:
d. to make informed decisions about Banks and their financial condition.
Explanation:
Financial regulatory agencies are saddled with the responsibility of providing financial supervision and regulations to Banks and financial institutions. They also maintain integrity in the financial system inorder to boost the confidence of investors, creditors, depositors and the general public.
However, one of the major reasons why financial information is provided by the regulatory agencies to investor, creditors and depositors is to make informed decisions about Banks and their financial conditions.
This means that various groups that have interest in Banks and financial institution are kept abreast of happenings in the financial sector of the economy and are able to know which bank and financial institution is healthy in terms of finances and to know where to invest subsequently.
<span>
$300,000 / 30% = 1,000,000 - 300,000 = $700,000 </span>
Answer:
D. $65 million
Explanation:
The computation of the end of year balance for accounts receivable is shown below:
Cash flows from operating activities $226
net income $150
Add: depreciation $85
Less: increase in inventory -$14
Add: increase in wages and taxes $15
Add: increase in account payable $10
Total $246
Change in account receivable -$20
Opening account receivable $45
Ending account receivable $65
