Answer:
$18,200
Explanation:
The computation of the year end retained earning balance is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
where,
Net income equals to
= Service revenue - total expenses
= $28,000 - $24,000
= $4,000
So, the retained earning ending balance would be
= $16,000 + $4,000 - $1,800
= $18,200
Answer:
SDX Alliance and Copyright
SDX Alliance should substantiate Ralph's claim that his former employer was out of business. In this attempt, contact with the owner of the moribund company and copyright should be initiated so that the copyright could be bought from the moribund corporation. These moves should run concurrently as SDX continues to review the code.
Alternatively, SDX Alliance can also continue to review the code while Ralph develops a modified code based on the copyrighted one. Some modifications of the old code may become inevitable due to the passage of time. If the new code can be modified to incorporate latest innovations and discoveries, then SDX can deploy and even copyright the modified code.
Explanation:
Copyright, which is a legal right, gives the owner the exclusive right to copy and modify a code. This means that another person is not allowed to make any copy without the original owner's permission. The question becomes difficult when the owner is no longer in business and cannot be located. Ordinarily, copyrights last for 70 years. Fair use of copyrighted intellectual property is allowed under certain conditions.
The PRIMARY function of banks in the United States is to?
ANSWER:
D. Provide checking and savings accounts to customers.
Answer:
The journal entry for the issue of bond for cash is shown below:
Explanation:
January 1
Cash A/c..........................................Dr $281,400
Bonds Payable A/c....................................Cr $240,000
Premium on Bonds Payable A/c...........Cr $41,400
Working Notes:
Cash = Bonds Par Value × Selling Price
= $240,000 × 117.25 %
= $281,400
Premium on bonds payable = Cash - Bonds Payable
= $281,400 - $240,000
= $41,400
Answer:
The beginning balance in accounts receivable was: $47,500
Explanation:
Sales reported on the income statement were $385,500, Accounts receivable increased of $385,500 during the period.
Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $359,000. The company collected $359,000 from the sales. Accounts receivable decreased of $359,000 during the period.
The beginning balance in accounts receivable = The ending balance of accounts receivable + Accounts receivable decreased during the period - Accounts receivable increased during the period = $74,000 + $359,000 - $385,500 = $47,500
