<u>Calculation of ending retained earnings balance after closing:</u>
The balance in ending retained earnings after closing can be calculated as follows:
Balance in retained earnings account before closing $297,000
Add: Revenues $185,000
Less: Expenses $103,700
Less: Dividends $18,000
Ending retained earnings balance after closing = $360,300
Hence, The balance in ending retained earnings after closing is <u>$360,300</u>
Participative
Management<span> is giving workers an opportunity to
participate or involve in the decision making process of the management. While in Employee empowerment
workers or employees are given a certain degree of sovereignty and
responsibility for decision-making regarding their specific organizational
tasks. (provide input to decision makers;
to make decision)</span>
FICA tax includes a 6.2% of social security and 1.45% Medicare tax on earnings.
Answer:
E. There is not enough information to determine Keith's discretionary income
Explanation:
The discretionary income is the income which is left after paying the taxes, food, rent, medical expenses, and other "necessities
Since in the given situation, all the information is given related to discretionary income but the tax rate is not given or the taxes paid is not given due to which we are unable to compute the discretionary income for the last year
