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jek_recluse [69]
3 years ago
7

The Retained earnings account has a credit balance of $23,800 before closing entries are made. Of total revenues for the period

are $75,200, total expenses are $55,000, and dividends are $12,600, what is the ending balance in the Retained earnings account after all closing entries are made
Business
1 answer:
skelet666 [1.2K]3 years ago
4 0

Answer:

The ending balance in the retained earnings account is $31400.

Explanation:

The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year.

The addition to retained earnings will be the Net income less dividends.

The net income for the year was = 75200 - 55000 = $20200

Addition to Retained earnings = 20200 - 12600   = $7600

Closing balance of retained earnings = 23800 + 7600  = $31400

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The following credit sales are budgeted by Swifty Corporation:
Genrish500 [490]

Answer:

$458,000

Explanation:

April

$460,000 x .70 = $322,000

March

$520,000 x .2 = $104,000

February

$400,000 x .08 = $32,000

Addition of APRIL+MARCH+FEBRUARY

$322,000 + $104,000 + $32,000

= $458,000

Therefore the anticipated cash inflow for the month of April is $458,000

3 0
3 years ago
Which of the following countries experienced a decline in total output from 2000 to 2005?
sattari [20]

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Explanation: GDP growth is crucial for an economy, since an increase in it reflects an increase in economic activity. If economic activity picks up, it means that unemployment tends to decrease and that per capita income increases.

In the case of Zimbabwe, population growth is far superior to GDP growth, therefore this makes economic growth much more difficult since there are more people per capita income is diminished.

7 0
4 years ago
Companies may want to consider budgeting for contributions to employee loss expenses (such as funerals) as well as for counselin
nikdorinn [45]

Answer: Option (A)

Explanation:

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8 0
3 years ago
The objective of a statistical process control​ (SPC) system is to A. provide a statistical signal when natural causes of variat
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Answer:

D. provide a statistical signal when assignable causes of variation are present

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7 0
3 years ago
The American Baker’s Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent inc
Snowcat [4.5K]

Answer:

Optimal package size = 4 units

Optimal package price = $20

Explanation:

P = 8 - 1.5Q and C(Q) = 2.0Q, MC = 2

To obtain optimal package size, we put

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          Q = 6 ÷ 1.5

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Hence,

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= 0.5[8 - 2] × 4 + 2 × 4

= 12 + 8

= $20

3 0
3 years ago
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