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Archy [21]
3 years ago
15

The Andrews company currently has the following balances in their equity accounts: Common Stock $59,934 Retained earnings $32,34

0 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year
Business
1 answer:
ale4655 [162]3 years ago
8 0

Answer:

the ending balance of the retained earnings is $62,640

Explanation:

The computation of the ending balance of the retained earnings is shown below:

= Opening retained earning + net profit - dividends paid

= $32,340 + $46,300 - $16,000

= $62,640

hence, the ending balance of the retained earnings is $62,640

The above formula should be used

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(1)B

(2)A

(3)B

(4)A

Explanation:

4 0
4 years ago
"To some people, the definition of familyis limited to legal and biological relationships, whereas toothers, it includes anyone
AleksandrR [38]

Answer: C. Compare-and-contrast

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The scenario above is aimed at establishing the different definitions or understanding of the word 'family' as explained by two different groups by stating the different definitions offered by each group.

3 0
3 years ago
Ivanhoe Co. had sales revenue of $549,500 in 2017. Other items recorded during the year were: Cost of goods sold $325,600 Salari
Sunny_sXe [5.5K]

Answer:

Sales Revenue                                                       549,500

<em><u>Less</u></em> Cost of goods sold                                       (325,600)

Gross Profit                                                               221,900

<em><u>Less</u></em> Expenses

Salaries and wages expense               (120,500)<em>                                        </em>

Other operating expenses                     (11,970)      

Income tax expense                               (29,130)    (161600)

Net Income                                                                 60300

Explanation:

A single-step income statement

Does not give distinction to Operating Incomes and expenses and Non-operating Income and expenses. All expenses are deducted in the same category.

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3 0
3 years ago
When a firm finances new investments, it may set up accounts payable with suppliers, but the balance that the firm must supply i
laila [671]

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Learn more here: brainly.com/question/17043004

6 0
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Answer:

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8 0
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