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Crank
2 years ago
15

A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and declared and paid cash divi

dends of $56,250 in the current period. The ending balance in retained earnings equals:_____.
a. $426,250.
b. $433,750.
c. $490,000.
d. $546,250.
e. $116,250.
Business
1 answer:
ella [17]2 years ago
4 0

Answer:

b. $433,750

Explanation:

The ending balance in retained earnings can be calculated as;

= Beginning balance + Net income - Cash dividends

Given that;

Beginning balance = $430,000

Net income = $60,000

Cash dividends = $56,250

= $430,000 + $60,000 - $56,250

= $433,750

Therefore, the ending balance in retained earnings is $433,750

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Answer:

<u>Cost of Goods Sold Budget</u>

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Cost of Goods Sold                $1,568,000          $1,664,600    

<u>Inventory Budget</u>

                                                  October              November

Total                                         $752,920            $772,800

<u>Purchase Budget</u>

                                                 October                November

Budgeted Purchases           $2,259,320            $2,397,880

Explanation:

<u>Cost of Goods Sold Budget</u>

Gross Profit Margin = 30% therefore Markup is 70%

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<u>Inventory Budget</u>

                                                  October                       November

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Total                                         $752,920                       $772,800

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                                                               October                       November

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Therefore September Closing Stock = $420,000 + $1,568,000 × 20%

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Answer:

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Explanation:

The computation of the expected return on investment is shown below:

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A business model is essentially a specification outlining how a company achieves its goals.

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yulyashka [42]

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