Answer:
Skysong Corporation
Statement of Retained Earnings
Retained earnings balance January 1, 2020 $691,300
Add:
Adjustments to 2019 Income Statement $88,390
Net profits 2020 $1,552,100
Less:
<u>Dividends declared and distributed ($82,000) </u>
Retained earnings balance December 31, 2020 $2,249,790
Since the land purchase was recorded as maintenance expense by error, the 2019 income statement must be adjusted by adding that amount.
Answer and Explanation:
The preparation of the partial income statement is presented below:
Blossom Corporation
Income Statement (Partial)
For the Year 2020
Particulars Amount (in $)
Income from continuing operations 10,895,300
Income from discontinued operations:
Less:
Loss from disposal of Restaurant net of tax -194,400
Loss from the operation of discontinued -321,800
Total expense -516,200
Net income 10,379,100
Earning per share
Income from continued operations (10,895,300 ÷10,000,000) $1.09
Loss from discontinued operations (516,200 ÷ 10,000,000) ($0.05)
Earning per share $1.04
Answer:
-4.25%
Explanation:
purchase price in 1999 = $12,497,500
purchase price in 2003 = $10,371,500
annual rate of return = {[($10,371,500 - $12,497,500) / $12,497,500] / (2003 - 1999)} x 100 = (-0.170114 / 4) x 100 = -4.25%
the annual rate of return refers to how much money you win or loss with an investment during a year. In this case, the investor lost $2,126,000 in 4 years, which resulted in a total loss of 17.01% for the whole period.
A substance decays in 22ach days. after 7 days, there are nine milligrams of the substance last. milligrams had been there to start with:
at the give-up of each day, you are left with (100- 22)% = 7-8%, that is 0.7-8Tim.
To decay is described as to rot, lose strength or become worse. An example of degradation is while old fruit begins to rot. An instance of degradation is whilst a community begins to come to be crime-ridden. A falling into spoil.
a few common synonyms of deterioration are decomposed, putrefy, rot, and spoil. even as these types of words suggest "to go through negative dissolution," decay implies a sluggish exchange from a country of soundness or perfection.
The wooden of the white pine is long-lasting for indoor use, in particular, whilst covered by means of paint, however, while uncovered to moist air it swiftly decays, and it is very prone to dry rot; its miles are said to be excellent while grown on sandy soils.
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Answer:
c) a debit to Petty Cash and a credit to Cash.
Explanation:
According to the golden rule of double of entry that a giver should be credited while a receiver is debited, the cash account is the giver in this case would be credited while the receiver,the petty cash account would be debited on the other hand.
The correct option which corroborates my explain above is option C.
Option A is wrong because the reverse was the case.
