Answer:
Answer explained below
Explanation:
In order to prepare the statement of retained earnings, the balance of the RETAINED EARNINGS account balance as well as any debit balance in the DIVIDENDS account is transferred from the adjusted trial balance and is used along with the reported net income (loss) from the Income Statement.
NOTE:
Retained earnings refer to the net income accrued to a business after debiting its dividends to shareholders.
Answer:
c. 38,200 units
Explanation:
The movement in the inventory account will be due to sales and production. Sales reduces the inventory balance while production increases it.
Given
budgeted sales of 36,000 units,
target ending finished goods inventory of 4,000 units,
and beginning finished goods inventory of 1,800 units
Let the units to be produced be t
1800 + t - 36000 = 4000
t = 4000 + 36000 - 1800
t = 38,200
38,200 units should be produced next year.
Answer:
$75,131
Explanation:
The computation of the amount of note payable credited is shown below:
Notes payable is
= Agreed amount to pay × present value factor at 10% for 3 years
= $100,000 × 0.75131
= $75,131
By multiplying the agreed amount to pay with the present value factor at 10% for 3 years we can get the amount credited to the note payable
<h2>(D.), organize an in-store event.</h2>
Answer:
The correct answer is b) Actual cash value.
Explanation:
Insurance industry’s ACV is define as "the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.)."
