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adoni [48]
2 years ago
8

On December 10, 2020, Jennings, Inc. paid out total dividends of $350,000 (this was the only dividend payment made during the ye

ar). If Jennings reported Retained earnings of $2,681,000 for 2019 and Retained earnings of $2,308,000 for 2020, what was Jennings reported net income in 2020?
Business
1 answer:
Hoochie [10]2 years ago
3 0

Answer:

$723,000

Explanation:

Calculation to determine what was Jennings reported net income in 2020

Using this formula

2020 Net income=(2019 Retained earnings-2020 Retained earnings)+ Total Dividend

Let Plug in the formula

2020 Net income=($2,681,000-$2,308,000)+$350,000

2020 Net income=$373,000+$350,000

2020 Net income=$723,000

Therefore Jennings reported net income in 2020 is $723,000

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$6000 is invested into 2 accounts at 8% and 7.5% and the total interest is $472.50 how much is invested at 8%?
djverab [1.8K]
0.08x+0.057 (6000-x)=472.5
Solve for x
X=4500 invested at 8%
4 0
2 years ago
At the end of Year 2, retained earnings for the Baker Company was $1,850. Revenue earned by the company in Year 2 was $2,100, ex
icang [17]

Answer

Retained earnings at the beginning of Year 2 was: $1,450

Explanation

Revenue = $2,100

Retained Earnings Closing Balance = $1,850

Expenses = $1,150

Dividends = $550

Retained Earnings Closing Balance = Revenue - Expenses - Dividends + Retained Earning Beginning Balance

$1,850 = $2,100 - $1,150 - $550 + Retained Earning Beginning Balance

Retained Earning Beginning Balance = $1,450

5 0
3 years ago
Heritage, Inc., had a cost of goods sold of $44,621. At the end of the year, the accounts payable balance was $8,403. How long o
Fiesta28 [93]

Answer:

Days sales in payable = 68.74 days(Approx)

Explanation:

Given:

Cost of goods sold = $44,621

Accounts payable = $8,403

Days sales in payable = ?

Computation of Days sales in payable :

Days\ sales\ in\ payables=(Accounts\ payable\/cost\ of\ goods\ sold)\times365\ days

Days sales in payable = ($8,403 / $44,621) × 365 days

Days sales in payable = 0.188319401 × 365 days  

Days sales in payable = 68.7365814

Days sales in payable = 68.74 days(Approx)

7 0
2 years ago
Employees whose values match the values of the organization they work for generally ________________ than employees whose values
Sholpan [36]

Answer:

Employees whose values match the values of the organization they work for generally SHOW MORE COMMITMENT TO THEIR JOBS than employees whose values don't match the organization.

Explanation:

Workplace values are the guiding principles that are most integral to the way a company works. Simply put, company's values, and the culture they create can spell the difference between success and failure.

The way people behave is deeply rooted in their values, when employees share their company's values, they make more informed decisions and are more committed to their jobs.

Sharing same values with the organization one works with increases the rate of productivity as one tends to be more motivated and dedicated to the job.

Therefore, the answer that best suits the question is that employees whose values match the values of the organization SHOW MORE COMMITMENT TO THEIR JOBS than employees whose values don't match the organization.

6 0
2 years ago
The use of theory and observation is more difficult in economics than in sciences such as physics due to the difficulty in a. fo
kupik [55]

Answer:

b. performing an experiment in an economic system.

Explanation:

In contrast to scientific experimentation, whereby connections and differences can be measured between two or more variables. In economics, theory and observation are more difficult than in sciences such as physics due to the difficulty in performing an experiment in an economic system, as human beings' opinions change over time, due to dynamism in human society.

Hence, in this case, the correct answer is option

3 0
2 years ago
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