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stich3 [128]
3 years ago
9

On January 1, 2016, Miller Corporation had retained earnings of $8,000,000. During 2016, Miller reported net income of $1,500,00

0, declared dividends of $500,000, and issued common stock for $1,000,000. What were Miller's retained earnings on December 31, 2016?
Business
1 answer:
Papessa [141]3 years ago
4 0

Answer:

Miller's retained earnings on December 31, 2016 is $9,000,000.

Explanation:

Miller's retained earnings on 31 December 2016 = retained earnings on January 1, 2016 + net income - declared dividends

= $8,000,000 + $1,500,000 - $500,000

= $ 9,000,000

Therefore, Miller's retained earnings on December 31, 2016 is $9,000,000.

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Marcia Simpson is the CEO of a golf training aid company. The company manufactures a variety of different products to help golfe
wariber [46]

Answer: Business

Explanation: In simple words, business refers to a group of activities that an individual performs, by taking calculated risk, for the ultimate purpose of making profit.

In the given case, Marcia Simpson is starting the new academy to target wealthy corporate employees.

Hence we can conclude that she is willing to start a business.            

3 0
3 years ago
The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In a
astra-53 [7]

Answer:

Actual Price paid for materials = $4.2136 \times 2,200 = $9,270

Actual price per unit = $4.2136

Explanation:

Provided information,

Standard Material per unit = $4

Total cost = $8,400

Standard Quantity = $8,400/$4 = 2,100 units

Provided Material Price variance = $470 unfavorable = - $470

= (Standard Price - Actual Price) \times Actual Units

Material Quantity Variance = $400 Unfavorable = - $400

= (Standard Quantity - Actual Quantity) \times Standard Rate

Using Material Quantity Variance

- $400 = (2,100 - Actual Quantity) \times $4

-$400/$4 = 2,100 - Actual Quantity

Actual Quantity = 2,100 + 100 = 2,200 units

Now, putting this value in Material Price Variance we have,

- $470 = ($4 - Actual Price) \times 2,200

-$470/2,200 = $4 - Actual Price

- $0.214 = $4 - Actual Price

Actual Price = $4 + $0.2136 = $4.2136

Final Answer

Actual Price paid for materials = $4.2136 \times 2,200 = $9,270

Actual price per unit = $4.2136

8 0
3 years ago
Brady corp. is considering the purchase of a piece of equipment that costs $20,000. projected net annual cash flows over the pro
katovenus [111]

Answer:

B

Explanation:

Payback period is the total time it takes an organization to recover the initial capital incurred in acquiring an asset.

It is expressed in years and fraction of years.

Initial investment    20,000

Year 1                                                 3000               17000

Year 2                                                 8000               9000

Year 3                                                 15,000

9000/15000= 0.6 years

The payback period = 2.6 years

5 0
3 years ago
The first step in the process of organizing a business is to
Hitman42 [59]

Answer:determine the work that needs to be done

Explanation:

5 0
3 years ago
Abb, is a $20.7 billion swiss swedish engineering group and it was a worldwide leader in
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I dont know but maybe someone helps you
8 0
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