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Marat540 [252]
2 years ago
13

For the past year, Zhao Events had taxable income of $198,600, beginning common stock of $68,000, beginning retained earnings of

$318,750, ending common stock of $71,500, ending retained earnings of $316,940, interest expense of $11,300, and a tax rate of 21 percent. What is the amount of dividends paid during the year
Business
1 answer:
juin [17]2 years ago
5 0

Based on the other transactions, the amount of dividends that was paid that year was <u>$158,704.</u>

<h3>After tax Net income </h3>

= Taxable income x ( 1 - tax)

= 198,600 x ( 1 - 21%)

= $156,894

<h3>Dividends during year</h3>

= Opening retained earnings + After tax income - Closing retained earnings

= 318,750 + 156,894 - 316,940

= $158,704

In conclusion, the dividends paid were $158,704.

Find out more on dividends paid at brainly.com/question/13470638.

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Assume that Cane normally produces and sells 62,000 Betas and 82,000 Alphas per year. If Cane discontinues the Beta product line
Talja [164]

Answer:

Please find the complete question in the attachment.

Explanation:

\beta the margin of contribution unit= 130-25-22-17-14 \ \ \ \ \ \  \ \ \ \ \ \ \ \ \ \ \ \ \ =52

\alpha Margin Contribution Unit = 90-10-21-7-10\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 42

8

Contribution losses =62000\times 42 \ \ \ \ \ \ \ \ \ \ \ \ = -2604000

Fixed cost avoidable =102000\times 20 \ \ \  \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 2040000

The margin of Alpha contributions =17000\times 52 \  \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ =884000

Fiscal benefits (disadvantage)= 320000

3 0
3 years ago
Wells Company's delivery truck, which originally cost $70,000, was destroyed by fire. At the time of the fire, the balance of th
beks73 [17]

Answer:

D) $17,500 gain.

Explanation:

Wells Company should record the following transactions:

  • Dr  Cash account 40,000
  • Dr Accumulated Depreciation Vehicles account 47,500
  • Cr Vehicle account 70,000
  • Cr Gain on Disposal account 17,500

$40,000 in cash was received and the accumulated depreciation balance should equal to zero, therefore they must be debited.

The vehicles account balance should equal zero and the rest is gain on disposal, therefore they must be credited.

4 0
3 years ago
A manager must make a decision on shipping. There are two shippers, A and B. Both offer a two-day rate: A for $526 and B for $53
MrMuchimi

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

6 0
3 years ago
Job 543 started on june 1 and finished on july 15. Total cost on july 1 was​ $10,800, and the costs added in july were​ $164,300
Snowcat [4.5K]

Answer:

$175,100

Explanation:

Job 523 started on June 1 and ended on July 15

The total cost on July 15 was 10,800

The cost added in July was 164,300

Therefore the debit to cost of goods sold can be calculated as follows.

= 10,800 + 164,300

= 175,100

Hence the debit to cost of goods sold is $175,100

4 0
3 years ago
On June 10, Concord Corporation purchased $8,050 of merchandise on account from Sarasota Company, FOB shipping point, terms 1/10
mariarad [96]

Explanation:

The journal entries are as follows in the books of Concord Corporation

On June 10

Merchandise inventory A/c Dr $8,050

              To Account payable A/c $8,050

(Being the inventory is purchased on account)                

On June 11

Merchandise inventory A/c Dr $510

             To Cash A/c $510

(Being freight is paid by cash)

On June 12

Accounts payable A/c Dr $450

    To Merchandise Inventory A/c $450

(Being goods returned is recorded)

On June 19

Accounts payable A/c Dr $7,600     ($8,050 - $450)

    To Cash A/c $7,524              ($7,600 × 1%)

    To Merchandise Inventory A/c $76

(Being payment is recorded)

6 0
2 years ago
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