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tatuchka [14]
4 years ago
11

The Baldwin Company currently has the following balances on their balance sheet:

Business
1 answer:
Art [367]4 years ago
6 0

Answer:

$77,950

Explanation:

We know that,

Total assets = Total liabilities + Shareholder equity

where,

Total assets = $240,859 + $55,000 = $295,859

Total liabilities = $140,674

And, the Ending retained earning balance = Beginning balance of retained earnings + net income - dividend paid

= $45,035 + $44,200 - $12,000

= $77,235

Now the shareholder equity would be

= Total assets - total liabilities - ending retained earning balance

=  $295,859 - $140,674 - $77,235

= $77,950

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3 years ago
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The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before li
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a. 
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b.
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6 0
3 years ago
Karen has been a buyer for Ocean Mist, a large cranberry processor, for several years. Believing that she knows a great deal abo
Ganezh [65]

Answer:

The answer is letter C, Broker.

Explanation:

In order to know whether Karen's company is a broker. It would be best to define what "Broker" is.

In business, <em>"broker" is defined as a person or a company who acts as a mediator between a buyer and a seller. As an agent, the broker gets commission in every business transaction. He can also represents himself as the buyer or the seller. At this point, he also gets a certain commission. </em>In the situation above, Karen arranges the transaction between the growers and processors of cranberries. At this point, she is acting as a seller and a buyer. She does this on behalf of the other firms. Thus, the answer is letter C, Broker.

<u>Additional Information</u>

Sales Agent- a self-employed salesperson who usually works alone. He obtains orders for companies and receives commission on those orders.

Commission Merchant- a person who buys and sells products. He receives commission for the sales price.

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3 years ago
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Mandarinka [93]

Answer:

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3 0
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