1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Simora [160]
3 years ago
8

At the end of Year 2, retained earnings for the Baker Company was $3,350. Revenue earned by the company in Year 2 was $3,600, ex

penses paid during the period were $1,900, and dividends paid during the period were $1,300. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2
Business
1 answer:
garik1379 [7]3 years ago
5 0

Answer:

Retained earnings at the beginning of Year 2 is $2,950.

Explanation:

Given the following:

Retained earnings at the end of Year 2 = $3,350

Revenue earned by the company in Year 2 = $3,600

Expenses paid during the period = $1,900

Dividends paid during the period = $1,300

Retained earning for year 2 = Revenue earned by the company in Year 2 - Expenses paid during the period - Dividends paid during the period = $3,600 - $1,900 - $1,300 = $400

Retained earnings at the beginning of Year 2 can be using the following formula:

Retained earnings at the end of Year 2 = Retained earnings at the beginning of Year 2 + Retained earning for year 2 .......... (1)

Substituting the values into equation (1) and sole for Retained earnings at the beginning of Year 2, we have:

$3,350 = Retained earnings at the beginning of Year 2 + $400

Retained earnings at the beginning of Year 2 = $3,350 - $400 = $2,950

Therefore, retained earnings at the beginning of Year 2 is $2,950.

You might be interested in
What are the eight differences between personal selling (direct contact) and non-personal selling (indirect contact, such as Int
Julli [10]

Answer:

internet banking facility

3 0
3 years ago
the nash corp is considering four investments. Which provides the highest after-tax return for Nash corp. if it is in the
vichka [17]

Answer:

ejrjfjfn

Explanation:

sudjfjejrjfngnv vjvkvkvk

8 0
2 years ago
What is home equity?
shepuryov [24]
Difference between the purchase price of the home and its current market price
3 0
3 years ago
Read 2 more answers
Why are social security and medicare considered highly efficient programs? multiple choice they are administered at the local le
gregori [183]

The largest and most expensive social welfare programs in America are Social Security and Medicare. Medicare receives the funding the most, and it is not tested program while the social security is the example of entitlement. The Social Security Act of 1935 brought government into the equation of the obligations of one generation to another.

6 0
3 years ago
Harry, a wheat farmer, is deciding whether or not to add fertilizer to his crops. If he adds 1 pound of fertilizer per acre, the
GarryVolchara [31]

harry should add $20 per pound

The method of identifying the advantages and disadvantages of various options by looking at the incremental impact on total revenue and total cost caused by a very modest change in the value or input of each alternative (just one unit). Instead of making decisions based on totals or averages, marginal analysis encourages those that focus on small or gradual changes to resources. Examining the costs and possible gains of particular business operations or financial choices is known as marginal analysis. The objective is to ascertain whether the benefits from the change in activity will be great enough to outweigh the costs.

To know more about marginal analysis refer to brainly.com/question/7412432

#SPJ4

8 0
1 year ago
Other questions:
  • Connolly Company produces two types of lamps, classic and fancy, with unit contribution margins of $13 and $21, respectively. Ea
    5·1 answer
  • Corey had read in the newspaper about a local robber, referred to as "Roy the Robber," who flashed a camera at his victim to dis
    12·1 answer
  • For a monopolistically competitive​ firm, marginal revenue A.is greater than the price.B.equals the price.C.is less than the pri
    13·1 answer
  • Suppose that a negative externality is created by the production of good X. Which of the following statements is correct?
    11·1 answer
  • Consulting firms and human resource departments have spent innumerable hours attempting to develop executive compensation progra
    12·1 answer
  • Consider a retail firm with a net profit margin of 3.42 %​, a total asset turnover of 1.88​, total assets of $ 45.9 ​million, an
    12·1 answer
  • Manufacturing overhead was estimated to be $562,800 for the year along with 20,100 direct labor hours. Actual manufacturing over
    11·1 answer
  • Cynthia​ Knott's oyster bar buys fresh Louisiana oysters for ​$3 per pound and sells them for ​$8 per pound. Any oysters not sol
    5·1 answer
  • Kim placed an order with her broker for 800 shares of each of three IPOs being offered this week. Each of the IPOs has an offer
    11·1 answer
  • A corporate bond pays 6.25 percent interest. How much would a municipal bond have to pay to be equivalent to this on an after ta
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!