Answer:
c. $8013.29
Explanation:
The retained earnings is the accumulated net earnings/losses over the period of existence of an entity. This is usually posted to the retained earnings accounted for as part of owners equity on the face of the balance sheet net the dividend paid.
The net income is the difference between the sales and all expenses including depreciation.
Let the depreciation be d
Net income = retained earnings + dividend
= $4221 + $469
= $4,690
$4,690 = 0.79 ($30,600 - $15,350 - $1,300 - d)
The 0.79 being the net of the tax which is the 21% applied on the net of sales and expenses.
d = $13,950 - $5,936.71
d = $8,013.29
In this case the stranger should disregard the contract.
The key piece of information in this question is that the purchaser is only fifteen years old. In order to enter into a contract both parties must be 18 years old. Since the signer in this case is not 18 the contract is not valid.
D.
The rest simply don't make sense, but D reflects the concepts of fixed and variable costs / expenses.
<span>According to the U.S. Department of Labor Statistics, in 2009 high school graduates made approximately $ 32,544/Year, <span>whereas</span>,</span><span> those who did not complete high school </span>made approximately $23,664.
Which mean the ones who graduated the high school earned around
$10,000 more than the ones without a high school degree.
<u>Solution:</u>
<u>The</u><u> </u><u>following journal entries will be passed:</u>
Accounts Debit Credit
Bond Payable (2000 bonds x $1000) $2,000,000
Discounts on Bonds Payable $30,000
Common Stock (50 shares x $10 x 2000 bonds) $1,000,000
Paid -in Capital in Excess of Par--Common Stock $970,000
(TO RECORD CONVERSION)
Cash ( 2000 * $1000 * 1.01) $2020000
Discount on bonds payable $59216
Bonds payable (2000 * $1000) $ 2000000
Paid - in - Capital - Stock warrant $79216
(To record issuance of bonds with stock warrant)
