Answer:
c. $71 million
Explanation:
The net income and dividends are the factors responsible for increase an decrease in retained earnings. Net income is added to the retained earnings balance while dividend is deducted from it.
Given the following information about NOW Inc,
net income = $152 million
Opening retained earnings balance = $459 million
Closing retained earnings balance = $540 million
$459 million + $152 million - Dividends = $540 million
Dividends = $459 million + $152 million - $540 million
Dividends = $71 million
Option c. $71 million
Chavez set a price ceiling on food. This is represented by the letter C - A price ceiling is a control or limit imposed by a government over how high a price can be charged for a product. By doing this, Hugo Chavez made a huge blunder, since it resulted in the quantity of food demanded exceeding the quantity supplied. <span>This in turn resulted in people smuggling and hoarding food. </span>
Answer:
As a result of the political unrest in Libya, the supply of oil would fall, As a result the supply curve would shift to the left. This would lead to fall in equilibrium quantity and a rise in price.
The increased demand for oil would shift the demand curve to the right. The equilibrium price and quantity would increase
Taking these two effects together, equilibrium price would rise and there would be an indeterminate effect on equilibrium quantity
Please check the attached image for a graph showing these shifts
b. As a result of the change in supply, supply would increase. This would increase equilibrium quantity and equilibrium price would fall. in addition with the increase in demand for oil, equilibrium quantity would rise and there would be an indeterminate effect on equilibrium quantity
Explanation:
Answer:
$3,260
Explanation:
Preparation of December statement of cash flows for Ernst Consulting
ERNST CONSULTING Income Statement
For Month Ended October 31
REVENUES
Consulting fees earned $17,450
Total revenues $17,450
EXPENSES
Rent expense $4,530
Salaries expense $8,090
Telephone expense $880
Miscellaneous expenses $690
Total expenses $14,190
Net income $3,260
($17,450-$14,190)
Therefore December statement of cash flows for Ernst Consulting will be $3,260
Answer:
Budgeted total revenue = $424,000
Explanation:
<em>The revenue budget shows the expected amount sales income projected for the next coming accounting period for a business. It contains data about the expected ales volume for different products, their prices and the estimated sales revenue.</em>
Product Price Quantity Revenue
Ounce 0.40 460,000 184,000
Bottles 1.20 200,000 <u>240,000
</u>
Total revenue <u>424,000
</u>
Budgeted total revenue = $424,000
