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Bumek [7]
3 years ago
7

Use the following information:

Business
1 answer:
seraphim [82]3 years ago
6 0

Answer:

Windswept, Inc.

The total dividends paid for 2017 is:

= $556.

Explanation:

a) Data and Calculations:

Windswept, Inc.

Income Statement for the year ended December 31, 2017:

Net Sales                                           $9,740

Cost of goods sold                              7,910

Depreciation                                          480

Earnings before interest and taxes $1,350

Interest paid                                            110

Taxable income                                $1,240

Taxes                                                     434

Net income                                         $806

Windswept, Inc.

2016 and 2017  Balance Sheets ($ in millions)

                               2016        2017                                     2016       2017

Cash                      $260       $290  Accounts payable    $1,490   $1,460

Accounts rec.        1,060         960  Long-term debt           1,130     1,330

Inventory               1,900       1,740  Common stock          3,400    3,340

Total                   $3,220   $2,990  Retained earnings        670       920

Net fixed assets   3,470     4,060

Total assets      $6,690    $7,050  Total liab. & equity  $6,690  $7,050

The total dividends paid for 2017:

Retained earnings, Dec. 31, 2016        $670

Net income for the year, 2017               806

Less Retained earnings, Dec. 31, 2017 920

Dividends paid                                     $556

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Keisha Tombert, the bookkeeper for Vaughn Consulting, a political consulting firm, has recently completed a managerial accountin
Serjik [45]

Answer:

$23,290.00

Explanation:

Preparation forn a schedule of cost of contract services performed

Supplies used on consulting contracts 1,940.00

Salaries of professionals working on contract 16,400.00

Service Overhead:

Janitorial services for professional offices 800.00

Insurance on contract operations 880.00

Utilities for contract operations 2,360.00

Depreciation on equipment used for contract work 910.00

Total service overhead 4,950.00

(800.00+880.00+2,360.00+910.00)

Cost of Contract Services Provided 23,290.00

(1,940.00+16,400.00+4,950.00)

Administrative expenses:

Supplies used in administrative offices 1,700.00

Depreciation on administrative office equipment 1,450.00

Salaries of administrative office personnel 8,690.00

Janitorial services for administrative offices 580.00

Insurance on administrative operations 930.00

Utilities for administrative offices 1,930.00

TOTAL 15,280

Therefore the schedule of cost of contract services performed will be 23,290.00

4 0
3 years ago
QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for th
pogonyaev

Answer:

$544

Explanation:

LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.

The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th

= 100 × 2.34 = $234

That leaves 250 - 100 = 150 units.

The cost of goods sold would be next allotted to the inventory purchased on the 9th

= 50 × 2.20 = $110

This leaves 150 - 50 = 100

The cost of the 100 would be alloted to the beginning inventory

100 × $2 = $200

Total cost of goods sold = $200 + $110 + $234 = $544

I hope my answer helps you

5 0
4 years ago
Minimum-wage laws can keep wagesa.a) above equilibrium and cause a surplus of labor.b) above equilibrium and cause a shortage of
Airida [17]

Answer:

The correct answer is option a.

Explanation:

Minimum wages can be defined as the minimum level of wages that an employer is supposed to pay to workers for their work. It cannot be reduced through an individual contract or collective agreement.  

Minimum wages are fixed above the equilibrium level of wages. At this level, the demand for labor is lower while supply is more because of high wages. This creates surplus labor in the market.  

4 0
3 years ago
An employee has gross earnings of $1,200 and withholdings of $91.80 for social security and medicare taxes and $120 for income t
satela [25.4K]

Given the following parameters:

The employer pays the employee (gross earnings) – $1,200

The employer pays for social security and medicare taxes – $91.80

The employer pays for the Federal Unemployment Tax Act (FUTA) – $9.60

The employer pays for the State Unemployment Tax Act (SUTA) –  $64.80


The total cost of this employee to the employer is the summation of all these costs
1,200 + 91.80 + 9.60 + 64.80 = $1366.20

3 0
3 years ago
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tino4ka555 [31]
Music is the worldwide language, but the widely held of Western classical music has been written by composers with markings in Italian. So, in order to follow the composer’s notated musical instructions, a player must embrace a few Italian words into their dictionary, along with their symbols and meanings.So in this case, Pianissimo means very soft which is denoted by pp, Piano means soft which is denoted by p and Fortissimo means very loud which is denoted by ff.
4 0
3 years ago
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