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Strike441 [17]
3 years ago
14

At the beginning of the year (January 1), Maurice and Sons has $16,300 of common stock outstanding and retained earnings of $2,2

00. During the year, the company reports net income of $3,410 and pays dividends of $1,550. In addition, the company issues additional common stock for $5,800.
Required: Prepare the statement of stockholders' equity at the end of the year (December 31).
Business
1 answer:
Marianna [84]3 years ago
4 0

Answer:

See below

Explanation:

Maurice and Sons

Statement of stockholder's equity at the end of the year (December 31)

Particulars Common stock

Retained earnings Total

Beginning

Balance $16,300

$2,200. $18,500

Net income

$3,410. $3,410

Dividend paid

-$1,550. -$1,550

Additional common

Stock $5,800. $5,800

Total

$4,060. $22,100. $26,160

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A situation occurring when the value of a nation’s exports exceeds the value of its imports is called a trade surplus.
Dafna11 [192]

Answer:

hey matthew

Explanation:

Is TRUE.

Trade Surplus. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. A trade surplus occurs when the result of the above calculation is positive. A trade surplus represents a net inflow of domestic currency from foreign markets.

6 0
3 years ago
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The _____ department or function is responsible for understanding the market (potential customers), making sure the product will
Galina-37 [17]

Answer: Product & Marketing, it can be one or both depending on the organization of the company. Product often sits inside Marketing, so pushed for one word id say “Marketing.”

Explanation:

7 0
3 years ago
Michelle is an active participant in the rental condominium property she owns. During the year, the property generates a ($17,50
julsineya [31]

Answer: $8,000

Explanation:

A special rule allows Michelle to classify up to $25,000 as losses against her nonpassive income.

If Michelle's modified adjusted gross income (MAGI) exceeds $100,000 however, the amount that exceeds the $100,000 will be reduced by 50% and deducted from the exemption allowed.

Loss deduction = Exemption allowed - [(Nonpassive income - MAGI limit) * 50%)

= 25,000 - [ (120,000 + 10,500 + 3,500 - 100,000) * 50%]

= $8,000

5 0
2 years ago
Neosho Corporation's Gauge Division manufactures and sells product no. 24, which is used in refrigeration systems. Per-unit vari
tester [92]

Answer:

(a) Refrigeration would be willing to pay a maximum of Rate 36 to gauge division for unit. because its outside purchase price.  (b) $30  (c) $40  (d) $35

Explanation:

Solution

Given that:

(A)  The Refrigeration would be willing to pay a maximum of Rate 36 to gauge division for unit. because its outside purchase price.

(B) If Gauge had excess capacity, The Division's Management set the transfer price would be $30. this is because transfer price be set as sum of Total Outlay cost and Opportunity Cost. So, ($23 + $7) + $0 = $30

(C) iF Gauge had no excess capacity, the transfer price would be $40.

The Calculation of Transfer price is as follows:

($23 + $7) = $30

Add :- ($40 - $23 -$7) = $10

Hence, the transfer Price = $40

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Thus,

The calculation of transfer price is as follows:-

($23 + $7 - $5) = $25

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7 0
3 years ago
The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ende
Liula [17]

Answer and Explanation:

The computation of contribution margin per unit and its contribution margin ratio and the Preparation of contribution margin income statement is shown below:-

Particulars                                     Amount

Sales Revenue                             $500,000

(1,000 × 500)

Variable Costs

Plastic for casing                      $17,000

Wages of assembly workers       $82,000

Drum stands                                 $26,000

Sales commission                        $15,000

Total Variable costs                     $140,000

Contribution                                  $360,000

($500,000 - $140,000)

Fixed Costs

Taxes on factory                           $5,000

Factory maintenance                    $10,000

Factory machinery depreciation  $40,000

Lease of equipment for

sales staff                                        $10,000

Accounting staff salaries               $35,000

Administrative management

salaries                                          $125,000

Total fixed Cost                            $225,000

Income                                           $135,000

($360,000  - $225,000)

Taxes at 25%                                 $33,750

Net Income                                    $101,250

Contribution Margin per unit         $360

($360,000 ÷ 1,000)

CM Ratio                                         0.72

(360,000 ÷ 500,00)

Answer and Explanation:

The computation of contribution margin per unit and its contribution margin ratio and the Preparation of contribution margin income statement is shown below:-

Particulars                                     Amount

Sales Revenue                             $500,000

(1,000 × 500)

Variable Costs

Plastic for casing                      $17,000

Wages of assembly workers       $82,000

Drum stands                                 $26,000

Sales commission                        $15,000

Total Variable costs                     $140,000

Contribution                                  $360,000

($500,000 - $140,000)

Fixed Costs

Taxes on factory                           $5,000

Factory maintenance                    $10,000

Factory machinery depreciation  $40,000

Lease of equipment for

sales staff                                        $10,000

Accounting staff salaries               $35,000

Administrative management

salaries                                          $125,000

Total fixed Cost                            $225,000

Income                                           $135,000

($360,000  - $225,000)

Taxes at 25%                                 $33,750

Net Income                                    $101,250

Contribution Margin per unit         $360

($360,000 ÷ 1,000)

CM Ratio                                         0.72

(360,000 ÷ 500,00)

We simply applied the above format

7 0
3 years ago
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