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
hjlf
3 years ago
8

Presented below are certain account balances of Martinez Products Co.

Business
1 answer:
Zepler [3.9K]3 years ago
4 0

Answer:

a. Total net revenue:

= Sales revenue - Sales discounts - Sales returns + Rent revenue + Dividend revenue

= 410,000 - 7,930 - 12,560 + 6,610 + 71,490

= $467,610

b. Net income:

= Total net revenue - Cost of goods sold - Interest expense - selling expenses - income tax expense - administrative expenses

= 467,610 - 179,854 - 13,420 - 99,440 - 28,935 - 75,280

= $70,681

c. Dividends declared:

= Beginning Retained earnings + Net income - Ending Retained earnings

= 114,500 + 70,681 - 134,260

= $50,921

d. Income attributable to controlling shareholders:

= Net income - non-controlling interest:

= 70,681 - 19,240

= $51,441

You might be interested in
1. If you were going to buy a fuel-efficient car, which three would you consider? Why? Answer:
Ksenya-84 [330]

Answer:

Ford Fusion, Toyota Corolla and BMW i3

Explanation:

Fuel economy and fuel efficiency is one of the most important thing to consider when buying a car.

In United States, nearly 8 thousand gallons of petroleum are consumed by cars everyday. This cost a lot to the people's purse and most importantly it costs the atmosphere.

When we burn or use more fuel, the atmosphere gets more polluted by the exhaust of the fuel burning, and the world oil supply is depleting faster. This results in the rise of gasoline price. Thus, it is very necessary to plan before buying cars.

I would consider the cars Ford Fusion, Toyota Corolla and the BMW i3 while planning to buy a car because they are the most fuel efficient cars available in the U.S. They are also equipped with latest technology like cruise control which reduces the fuel consumption of the car.

The 2020 Ford fusion is a 6 speed automatic front wheel drive which gives the best driving experience and less energy wastage.

4 0
3 years ago
Suppose the economy is operating in long-run equilibrium and a positive demand shock hits. We expect a short-run increase in rea
Pepsi [2]

Answer:

The correct answer is: an expansionary gap; decrease the money supply.

Explanation:

An expansionary gap is when genuine output surpasses potential output. At the end of the day, the economy is incidentally working over its long-run potential as estimated by real GDP.

3 0
3 years ago
Describe a scenario that forced you to wrestle with your values?
Trava [24]

Answer:

To use brainly or to not use brainly. I dont like cheating but sometimes I realy need help.

Explanation:

7 0
3 years ago
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.)
Mariulka [41]

Answer:

<u>GOMEZ CORPORATION </u>

<u>Comparative Income Statements</u>

<u> For Years Ended December 31</u>

<u>                                           Current Year                     Prior Year</u>

<u>                                               $                 %                          $                      % </u>

Sales                                  $785,000      100                    $640,000         100

Cost of goods sold                568,100     72.4                     288,800         45.1

Gross profit                            216,900     27.6                     351,200         54.9

Operating expenses                130,400    16.6                     221,600         34.6

Net income                               $86,500   11.0                       $129,600     20.3

The figure used to calculate the percentages is that of sale revenue. Each figure is expressed as a percentage of sales to determine the percent of expenses , profits etc.

5 0
3 years ago
The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 5,000 sha
patriot [66]

Answer:

A. The preferred stock is noncumulative and nonparticipating

preferred dividends = $100 x 2,000 x 8% = $16,000

common stocks = $90,000 - $16,000 = $74,000

Preferred dividends not paid to noncumulative preferred stocks are "lost" and will not be paid in the future.

B. The preferred stock is cumulative and nonparticipating.

preferred dividends = ($100 x 2,000 x 8%) x 3 years = $48,000

common stocks = $90,000 - $48,000 = $42,000

C. The preferred stock is cumulative and participating.

preferred dividends = [($100 x 2,000 x 8%) x 2 years] + $25,777.60 = $57,777.60

common stocks = $90,000 - $57,777.60 = $32,222.40

When preferred stocks participate in the company's earnings, they receive an additional revenue proportional to the dividends received by common stockholders.

$32,222.40 / $250,000 (common stocks) = 12.8888%

$200,000 x 12.8888% = $25,777.60

3 0
3 years ago
Other questions:
  • A loan of $5,000 is charged a 12% annual interest rate. An $80 payment is made each month. a. Write a recurrence relation for th
    11·1 answer
  • Michael, a systems analyst, is preparing a closed wiki site for Northstate Bank. He has written permission from eight other comp
    15·1 answer
  • Under the HIPAA Security Rule, which is NOT considered a covered entity (CE)?
    8·1 answer
  • "In a new margin account, a customer buys 1,000 shares of ABC stock at $40 per share. The stock rises to $45 during the next wee
    12·2 answers
  • Explain the art of negotiating and an example to go with. :) ( A situation within very sophisticated work, mhm.)
    13·1 answer
  • Mediocre economists often consider only the immediate apparent effects of a change, whereas a good economist will also consider
    12·1 answer
  • Cash Now Industries just hired 500 new workers to build ATMs and self-service check-out systems at its manufacturing plant in Te
    5·1 answer
  • At the end of Year 1, Fulton Corporation estimates uncollectible accounts to be $10,000. Actual bad debts during Year 2 totaled
    5·1 answer
  • Which one of the following is not a part of the business case for why companies should act in a socially responsible manner? A.
    10·1 answer
  • Trade-offs between the characteristics that make information useful may be necessary or beneficial. Issuance of interim financia
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!