Answer:
Warbocks Corporation
Statement of retained earnings for the year ended December 31, 2017
Amount in $
Opening retained earnings 12,600
Net income for the year 7,000
Dividend <u> (5,000)</u>
Closing retained earnings <u> 14,600</u>
Explanation:
The retained earnings statement shows the movement in the retained earnings balance between the start and end of the year.
This includes the net earnings and dividend paid during the year.
Net income = $30,000 - $15,000 - $2,000 - $4,500 - $500 - $1,000
= $7,000
Answer:
The net Cash collections from customers were $85683.
Explanation:
The direct method for calculating net cash flow involves deducting from cash sales only operating expenses that needed cash.
Cash collections from customers by Washington company are:
Accounts Receivable, January 1 + Sales - Accounts Receivable, December 31
=$16,099 + $76,821 - $7,237
=$92,920-$7,237
=$85683
The net Cash collections from customers were $85683.
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A property's legal ownership and permitted uses are governed by property right law. When it comes to land, it has been noted that theft is common. People who purchase properties often lose them to thieves when they are resold to someone else who is unaware that the property has already been sold to someone else. The property right law was established to stop this circumstance from occurring frequently so that the owner of a plot of land would have the legal right to claim ownership for it and use it for any purpose he desired without fear of it being taken by someone else.
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Answer:
Consumption Function : Relationship between Consumption Spending & Income
Consumption Function Slope = Marginal Propensity Curve (MPC)
Change in Consumption = Change in Income X MPC
Explanation:
Consumption Function is the curve representing relationship between Consumption spending and Income.
C = a + bY ; where :- C = Consumption , Y = Income , a = Autonomous Consumption i.e consumption at 0 level of income , b = MPC i.e additional consumption consumed from additional income = ΔC / ΔY
b = MPC i.e change in C due to additional change in Y = ΔC / ΔY is the slope of Consumption Function
MPC = ΔC / ΔY .
So, change in consumption i.e ΔC = MPC X ΔY
Answer:
E. The demand for loanable funds increases.