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FromTheMoon [43]
3 years ago
8

These financial statement items are for Martinez Company at year-end, July 31, 2022. Salaries and wages payable $ 2,400 Notes pa

yable (long-term) $ 1,600 Salaries and wages expense 51,000 Cash 13,200 Utilities expense 22,900 Accounts receivable 9,800 Equipment 29,300 Accumulated depreciation-equipment 6,300 Accounts payable 4,500 Dividends 2,700 Service revenue 61,000 Depreciation expense 4,200 Rent revenue 9,000 Retained earnings (beginning of the year) 20,900 Common stock 27,400 Prepare a retained earnings statement for the year.\
Business
1 answer:
cricket20 [7]3 years ago
6 0

Answer:

See below

Explanation:

Statement of Retained earnings for the year is computed as;

Retained earning at the beginning

$20,900

Add service revenue

$61,000

Less dividend

($2,700)

Retained earnings for the year

$79,200

Please note that other information given are not relevant for the preparation or computation of statement of retained earnings for the year.

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Chance is a traveling marketing representative for a publishing company. He is an independent contractor and was hired without n
Yuki888 [10]

Answer:

hold Chance but not the company liable

Explanation:

In this scenario Chance is an independent contractor so his actions are not representative of the companie's.

When an independent contractor causes damages while working the company will not be held liable for his negligence.

So in this scenario where Chance negligently runs a stop sign and causes an accident and Judy is injured. Only Chance is liable

5 0
3 years ago
The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Feder
tigry1 [53]

Answer:

The higher discount rate lower the banks incentive to borrow from the Fed, lowering the quantity of reserves, and causing the money supply to fall.

This is because a higher discount rate makes borrowing from the Fed more expensive. Some of the money that would have been borrowed from the fed becomes bank reserves, and some other becomes loanable funds that increase the money supply. As a result, if banks borrow less from the fed, the money supply falls (or grow less).

The Fed Funds rate is the rate that banks charge one another for short-term overnight loans.

This occurs when banks are stripped of cash, and rely on other banks to meet their cash requirements for the day.

When the Fed buys government bonds, the reserves in the banking system increases, the banks demand for the reserves decreases, and the federal funds rate falls.

When the Fed buys government bonds, it is essentially creating money. This money enters the banking system in the form of reserves, of which some are loaned out, creating even money. Demand for the borrowed reserves falls because banks now need less of it, and as a result, their price: the federal funds rate, also falls.

Explanation:

8 0
3 years ago
Hello i really need help thank u
lukranit [14]
I would need to be able to watch the video to help you I’m sorry
5 0
3 years ago
The infant industry argument says that Question 7 options: tariffs should be imposed to allow a new industry in a country to get
Nesterboy [21]

Answer:

The infant industry argument says that Question 7 options:

tariffs should be imposed to allow a new industry in a country to get established.

Explanation:

The argument for the infant industry protectionism suggests that the imposition of tariffs on imports gives a new industry in the country the required breathing space it requires to develop, grow, and be established before it can face competitive forces from outside, which imports imply.  Since newly formed industries often do not command the economies of scale and learning experience that their competitors from other countries may have, therefore, they need to be singularly shaded from external competition until they have achieved similar economies of scale and learning curve.  But, can they attain any competitive edge without learning from competitors?

6 0
3 years ago
Q2.Parent Company acquired 90% of Son Inc. on January 31, 20X2 in exchange for cash. The book value of Son's individual assets a
Liula [17]

Answer:

Journal entry that  Parent will make on the date of acquisition to record the investment in Son Inc. is <u>$1035000.</u>

Explanation:

Journal entry Parent make on the date of acquisition to record the investment in Son Inc.

The net worth of Son’s Inc. is $ 1150000. The parent acquires 90 % of it . So we assume that 90 % stock is held by parent for $ 1035000.

5 0
3 years ago
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