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Wewaii [24]
3 years ago
10

Grason Corporation is preparing a budgeted balance sheet for 2015. The retained earnings balance at December 31, 2014 was $533,5

00. The 2015 budgeted income statement shows expected net income of $112,000. The company expects to declare dividends during 2015 amounting to $40,000. The expected balance in retained earnings on the 2015 budgeted balance sheet is________________.
A. $533,500.
B. $685,500.
C. $493,500.
D. $605,500.
E. $645,500.
Business
1 answer:
OlgaM077 [116]3 years ago
7 0

Answer:

D. $605,500

Explanation:

At the end of 2014, the Retained Earning balance was $533,000. This serves as our beginning balance for the year 2015.

Furthermore, Dividends are expected to be paid out, i.e. a deduction on the balance sheet.

Retained Earnings on the 2015 budgeted balance sheet = Beginning Balance + Expected Net Income - Expected Dividend

=533,500+112,000-40,000

=$605,500

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Option B is correct answer.

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8 0
1 year ago
Why are entrepreneurs considered both spark plugs and catalysts of the free enterprise economy?
Tanya [424]
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3 0
3 years ago
During the current year, Cary and Bill incurred acquisition debt on their residence of $1,300,000 and a home equity loan of $200
77julia77 [94]

Answer:

qualified acquisition debt = $750,000

qualified home equity debt = $0

Explanation:

Qualified acquisition debt refers to the debt incurred to purchase or build your home. In this case, Cary and Bill are allowed to itemize the interests paid for up to $750,000 of the acquisition debt ($375,000 if filing separately). This limit was reduced due to the TCJA of 2017, and will remain in place until 2025. After 2025, the limit will return to the normal $1,000,000.

Certain amount of interests on qualified home equity loans will also return in 2025, but currently they are not deductible.  

8 0
3 years ago
The coefficient of variation, calculated as the standard deviation of expected returns divided by the expected return, is a stan
SOVA2 [1]

Answer:

The correct answer is True.

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Whenever a conflict arises within the classification of projects between the expected monetary value and the standard deviation, the coefficient of variation is used to try to solve the problem. For this reason, it is concluded that the coefficient of variation is a standardized measure of risk.

5 0
3 years ago
Andrew Flint is the CEO of a small, publicly held company based in Idaho Falls, Idaho. Flint earned $76,000 last year as CEO. In
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Answer:

D, Flint can simply write ot the SEC to voice his concerns.

Explanation:

Since Flint does not have a case that warrants a court challenge but rather an observation, Flint can simply write to the SEC to intimate them about his observations and/or findings, as well as let the SEC know the position of his company on the rule being proposed by it.

Cheers.

6 0
3 years ago
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