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Vesna [10]
3 years ago
13

The following amounts represent totals from the first three years of operations. Calculate the balance of Retained Earnings at t

he end of 2021.
Years Net Income (loss) ($) Net Cash Flow ($) Devidens ($) Insurance of Stock ($)
2019 1,200 500 200 2,000
2020 500 300 0 0
2021 2,300 2,800 200 0

(A) $2,600
(B) $4,600
(C) $3,100
(D) $3,500.
Business
1 answer:
N76 [4]3 years ago
4 0

Answer:

D. $3,500

Explanation:

we must focus on the result of the year and the dividends paid, since these decrease the  <u>Retained Earnings</u>

Cash flow has no impact and the insurance of stock  is within the result of the year

2019, income was 1200 less dividends allocated

200

<u>Retained Earnings</u>= 1000

2020 result of 500 without dividend distribution

<u>Retained Earnings</u>= 500

2021 result of 2300 and distribution of dividends by 300

<u>Retained Earnings</u>= 2000

<u>Total Retained Earnings</u>= 3500

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3 years ago
What are some possible reasons Waymo entered an alliance with Lyft? Are there any reasons Waymo would prefer Lyft over Uber as a
cricket20 [7]

Answer:

(1) To gain dominance in the Autonomous driving Technology.

(2) To utilize the vast network of drivers of Lyft to enhance the use of its technology

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(4) To enhance its performance and profitability.

PART B

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3 years ago
Complainer in the workplace
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Complainer in the workplace?


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4 0
2 years ago
Crane Company had revenues of $334000, expenses of $201000, and dividends of $47000. When Income Summary is closed to Retained E
zzz [600]

Answer:

It is a credit to Retained Earnings. Credit of $133,000

Explanation:

Closing an entry means transferring all revenue (sales) account balance and expense account balance at the end of an accounting period to the income summary account.

This either leads to a net profit or loss for the period covered in the income summary account. The balance in the income summary then goes into the Retained Earnings.

Step 1: Transfer the revenue to the income summary...

Dr: Revenue - $334,000

Cr: Income summary - $334,000

Step 2: Transfer the expense to the income summary...

Dr: Income summary - $201,000

Cr: Expense- $201,000

This means Revenue (Dr) in step 1 minues Expense (Cr) in step two

$334,000 - $201,000 = $133,000.

The net profit of $133,000 is the transferred to Retained Earnings

Dr: Income summary - $133,000

Cr: Retained Earnings- $133,000

6 0
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