Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next months budget appear below:

Selling price per unit $29 per unit
Variable expenses $16 per unit
Fixed expenses $8,600 per month
Unit sales 1,010 units per month

Required:
a. Compute the company’s margin of safety.
b. Compute the company’s margin of safety as a percentage of its sales.

Answers

Answer 1

Answer and Explanation:

a. The calculation of the margin of safety is

Sales price per unit $ 29.00

Variable cost per unit ($16.00)

Contribution per unit $13.00

Fixed expenses  $8,600.00

Break even sales in units ($8,600 ÷ 13) 662

Break even sales in dollars = (662 ×$29)     $19,198

Actual Sales (1,010 × $29) $29,290

Margin of safety $10,092

b. The margin of safety in percentage is

= $10,092 ÷ $29,290

= 34.46%


Related Questions

You overhear a group of your co-workers laughing at some crude jokes about a few customers. Which of the following would you most likely do?

Answers

Answer: Tell your manager about this offensive behavior.

Explanation:

If I overhear a group of your co-workers laughing at some crude jokes about a few customers, the most likely thing for me to do will be to inform my manager about this offensive behavior.

Customers are vital to every business and should be treated right, without the customers, there isn't any business at all. Therefore, I'll inform my manager so that he'll have an idea of what is going on and then call them to order and explain to them that customers should be treated right and respected.

As an economy recovers from a​ recession, the observed level of labor productivity tends to decline.​ Why?
A. The marginal product of labor declines as new workers enter the expanding work force.
B. The total product increases during the​ recovery, but the number of workers declines.
C. The marginal product of labor increases at a slower rate than the decline in employment.
D. The total product remains the same during the​ recovery, but the number of workers declines.

Answers

Answer:

Answer is C. The marginal product of labor increases at a slower rate than the decline in employment.

Explanation:

As an economy recovers from a recession, the observed level of labor productivity tends to decline, Why? Because the marginal product of labor increases at a slower rate than the decline in employment.

As an economy recovers from a recession, the observed level of labor productivity tends to decline because the marginal product of labor increases at a slower rate than the decline in employment. Thus option(C) is correct.

What is recession?

A recession can be defined as a sustained period of weak or negative growth in real Gross Domestic Product that is accompanied by a significant rise in the unemployment rate.

A recession is a significant, widespread and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative Gross Domestic Product (GDP) grwoth mean recession,

A recession is a significant, pervasive and persistent decline in economic activity. Economists measure a recession's length from the prior expansion's peak to the downturn's trough.

The unemployment remains at high during the recession. The nation uses fiscal and monetary policies to limit the risks of a recession.

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Assume you deposit $5,000 at the end of each year into an account paying 9.5 percent interest. a. How much money will you have in the account in 19 years

Answers

Answer: $242,567.27

Explanation:

The $5,000 is an annuity as it is being paid every year and is a constant amount.

The value in 19 years is the future value of this annuity:

Future value of annuity = Annuity * ( ( 1 + rate) ^ number of years - 1) / rate

= 5,000 * ( ( 1 + 9.5%)¹⁹ - 1) / 9.5%

= $242,567.27

Perfect elasticity and zero elasticity refer to the same event, which occurs when quantity demanded or quantity supplied change by an infinite amount in response to any change in price.
a) true
b) false

Answers

Answer:

b

Explanation:

perfectly elasticity is when at an existing price quantity demanded can increase or decrease.the numerical co efficient is always infinity ♾️

What is another name for a job fair?

Answers

job expo, career fair, career expo

MC Qu. 94 A company uses a process... A company uses a process costing system. Its Assembly Department's beginning inventory consisted of 57,200 units, 75% complete with respect to direct labor and overhead. The direct labor beginning inventory costs were $10,700. The department completed and transferred out 109,500 units this period. The ending inventory consists of 47,200 units that are 25% complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $42,000 and overhead costs of $50,000 for the period. Assuming the weighted average method, the direct labor cost per equivalent unit (rounded to the nearest cent) is:

Answers

Answer:

$0.43

Explanation:

                                  Equivalent Units

                                                                                         Labor

                                                                       % Completion       Units

Units Completed and Transferred out                100%             109,500

Ending Work in Process                                       25%               11,800  

Total Equivalent units                                                                 121,300  

Particulars                                         Amount

Beginning work in Process               10,700

Cost Added during May                    42,000

Total cost added during the year   $52,700

Cost per Equivalent unit = Total cost added during the year / Total Equivalent units

Cost per Equivalent unit = $52,700 / 121,300 units

Cost per Equivalent unit = 0.43446002

Cost per Equivalent unit = $0.43

2. In what ways does the division between value creation and value delivery help clarify the process of refining the business model

Answers

Answer:

Value creation refers to the process of creating a company value based on the demands of the consumer and their willingness to use the value. The action of drifting wealth in a value networks is essential to the idea of shared value.

In other words, The way you create your goods such that they provide the most value to the customers who use them is called value delivery. Customers can receive worth in the shape of goods, perks, and characteristics, among other things. Anything that adds worth to the consumer 's experience should be included in the value ordering process.

Brandy’s Restaurant estimates that its total cost of providing Q meals per month is given by TC = 6,000 + 2 Q. If Brandy charges $4 per meal, what is its break-even level of output?

Answers

Answer: 3,000 meals

Explanation:

The 6,000 in this total cost formula represents the fixed costs of providing the Q meals per month.

The 2 represents the variable cost.

If a meal is $4, that means that the Contribution margin is:

= 4 - 2

= $2 per meal

The break-even level of output is:

= Fixed cost / Contribution margin per meal

= 6,000 / 2

= 3,000 meals

Please solve for the value of the following bonds and briefly explain your results:
A) A U.S. Government Treasury Strip is quoted in the Wall Street Journal at a market price of 87:19 (87 and 19/32). If the strip is scheduled to mature in May 2025, what is the annual interest rate for this bond?
B) Xenor Corporation introduced a bond in 2001 that offered a coupon rate of 8 1/2%, resulting in coupon payments of $8.50. The bond is scheduled to mature in 2031. If the current going interest rate in the market is 6 3/4%, what is the market price (please calculate the interest and the principal due to get this value) of this bond today?
C) A bond offers a coupon that makes annual payments of $87.50. The bond was originally set to mature in 17 years. A quote for this bond, obtained 15 years after the original issue date, listed the market price as $1,070.00. What is the YTM for this bond?

Answers

Answer:

US Treasury Strip Price of the strip, P = $87 and 19/32 = $87.59375 Face Value of the strip = $100 Maturity, N = 5 years (assuming the quoted price is the current price, i.e., in November 2020, the time to maturity in November 2025 will be 5 years

Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $9,138. FICA tax for Social Security is 6.2% on the first $128,400 of earnings each calendar year and the FICA tax for Medicare is 1.45% of all earnings. The FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income Tax withheld from his earnings was $1,516.27. What is the amount of the employer's payroll taxes expenses for this employee

Answers

Answer:

$ 1,119.06

Explanation:

It is given that :

Gary Marks total earning = $ 9,138

The social security tax = 6.2%

The Medicare tax = 1.45%

We known, the FUTA and the SUTA must only be applied to the first $7000 earned from Gary's pay.

So, the employer's payroll taxes expenses = Social security + Medicare + FUTA + SUTA

    = ($9,138 x 6.2%) + ($9,138 x 1.45%) + ($7000 x 0.6%) + ($7000 x 5.4%)

    = 566.56 + 132.5 + 42 + 378

    = $ 1,119.06

Therefore, the amount of the employer's payroll taxes expenses is $1,119.06

The senior marketing executive you have assigned as team leader asks you to stay on as a team consultant until she gets things rolling. She asks your advice on her first course of action. What will you advise her to do

Answers

Answer:

In layman's terms, you suggest a highly skilled communications specialist with exceptional creative abilities. You frequently recommend a sales manager who is known with his or her abilities to provide clear direction and follow action. The project will need individuals who will have the relevant experience in managing others as well as academic specialization in related operations.

Senior marketing executive carries out the companies marketing activities, they advise sales manager to understand the customer's need.

What is the role of senior marketing executive?

The senior marketing executive carries out the marketing activities, plan the strategies to maximize profits and to achieve the target of a company.

When a senior marketing executive act as team lead:they are expected to increase sales and maximize the companies profit. They recommend sale manger to know the customer's expectation and make sales accordingly. You require people in team who have experience in the field and have academic specialization also.

Therefore, the above explanation aptly describes the role of senior marketing executive

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Jensen Company purchased a new machine on January 1, 2018, at a cost of $104,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 80,000 working hours during its 8-year life.
Compute depreciation using the Double-declining method for 2018:
Straight-line for 2018 and 2019, assuming a December 31 year-end.
unit of activity
depriciation

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $80,000

Salvage value= $8,000

Useful life= 8 years

To calculate the annual depreciation under the double-declining balance method, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2018:

Annual depreciation= 2*[(80,000 - 8,000) / 8]

Annual depreciation= $18,000

Now, the straight-line method:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (80,000 - 72,000) / 8

Annual depreciation= $9,000

It remains constant during useful life.

Finally, the units-of-activity method (suppose 15,000 hours):

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= [(80,000 - 8,000) / 80,000]*15,000

Annual depreciation= $13,500

Depreciation refers to the reduction in the value of asset over time and such valued reduction are reflected in the Balance sheet at year ended.

Machine usage period is 3 month (1st October 2017 - 31st December 2017)

Computing the Straight-line depreciation for 2017 and 2018

Depreciation for 2017 = (Cost - Salvage value) / Useful Life

Depreciation for 2017 = (104,000 - 8,000) /8

Depreciation for 2017 = $96,000 / 8

Depreciation for 2017 = $12,000 per year

For the 3 month, Depreciation for 2017 = $12,000*3/12 = $3,000

Depreciation for 2018 = (Cost - Salvage) / Useful Life

Depreciation for 2018 = ($104,000 - $8,000) /8

Depreciation for 2018= $96,00 ) /8

Depreciation for 2018 = 12000

Computing the Declining-balance using double the straight-line rate for 2017 and 2018

Useful life = 8 Year

Straight line Depreciation % = 1/8

Straight line Depreciation = 0.125

Straight line Depreciation = 12.50%

Depreciation Rate = 2 * 12.50

Depreciation Rate = 25%

Depreciation for Year 2017 = $104,000*25%*3/12

Depreciation Rate = $6,500

Depreciation for Year 2018 = ($104,000 - $6,500)*20%

Depreciation for Year 2018 = $24,375

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The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these goods is $3,000, and the overhead rate is 75% of direct labor, how much direct materials cost was incurred in producing these units

Answers

Bbrnenenenebs snenajsnana sjsjsbswnw

ABC Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales $18,080,000
Net operating income $940,160
Average operating assets $4,810,000
The division's return on investment (ROI) is closest to:____.
a. 5.60%.b. 20.56%.c. 16.71%.d. 2.60%.

Answers

Answer:

the return on investment is 19.55%

Explanation:

The computation of the return on investment is shown below:

Return on investment is

= (Net operating income ÷ Average operating assets) × 100

= ($940,160 ÷ 4,810,000) × 100

= 19.55%

Hence, the return on investment is 19.55%

The Fed threw a lot of money at the financial crisis in 2008 to unfreeze credit markets and encourage economic activity. As part of its effort to keep the interest rate​ low, the Fed purchased government bonds worth​ $300 billion between March and September 2009. By​ October, the Fed held​ $770 billion in government​ securities, nearly double its​ pre-crisis total. Before the​ crisis, the Fed held mainly government​ securities, which it used to control the quantity of money in the economy. Now government securities make up just​ 35% of the​ Fed's balance sheet.
Explain how the Fed uses its government securities to control the nominal interest rate
When the Fed purchases government securities, bank reserves ______ and bank deposits ______.
A. increase; increase
B. decrease; increase
C. decrease; decrease
D. increase; decrease

Answers

Answer:

D. increase; decrease

Explanation:

$2200; increased; 300

Calculating the Cost of Equity. Suppose stock in Lululemon Corporation has a beta of 0.80. The market risk premium is 10 percent and the risk-free rate is 2 percent. What is Lululemon's cost of equity capital?
Calculating the WACC. In addition to the information in the previous problem, suppose Boone has a target debt-equity ratio of 50 percent. Its cost of debt is 8 percent, before taxes. If the tax rate is 34 percent, what is the WACC?

Answers

Answer:

Cost of equity capital can be found by the Capital asset pricing model:

Cost of capital

= Risk free rate + beta * market premium

= 2% + 0.8 * 10%

= 10%

Weighted Average Cost of Capital:

= (weight of debt * after tax cost of debt) + (weight of stock * cost of stock)

= (50% * 8% * ( 1 - 34%)) + (50% * 10%)

= 10.28%

The minimum that firm needs to do to engage in international business is to: Invest directly in in operations in another country. Export or import products from other countries. Export low-wage manufacturing jobs to companies in other countries. Establish joint ventures or strategic alliances with companies in other countries. Visit a foreign country frequently.

Answers

Answer: Export or import products from other countries.

Explanation:

Anything that has to do with the trading in goods and services with an entity from another country constitutes international business.

The minimum that one has to do therefore, to be involved in international business is to simply export to other countries or import from them. This is the cheapest and most widespread method of international business and as a result, represents the bulk of international business.

Onslow Co. purchases a used machine for $178,000 cash on January 2 and readies it for use the next day at a $2,840 cost. On January 3, it is installed on a required operating platform costing $1,160, and it is further readied for operations. The company predicts the machine will be used for six years and have a $14,000 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of.
Required:
1. Prepare journal entries to record the machine’s purchase and the costs to ready and install it.
Cash is paid for all costs incurred.
2. Prepare journal entries to record depreciation of the machine at December 31 of (a) its first year in operations and (b) the year of its disposal.
Prepare journal entries to record the machine’s disposal under each of the following separate assumptions: (a) it is sold for $15,000 cash; (b) it is sold for $50,000 cash; and (c) it is destroyed in a fire and the insurance company pays $30,000 cash to settle the loss claim.

Answers

Answer:

Onslow Co.

Journal Entries:

1. Jan. 2: Debit Equipment $178,000

Credit Cash $178,000

To record the cash payment for equipment purchase.

2. Jan. 3: Debit Equipment $4,000

Credit Cash $4,000

To record the cash payment for readying the equipment for use.

3. Dec. 31: Debit Depreciation Expense $28,000

Credit Accumulated Depreciation $28,000

To record depreciation expense for the first year.

4. Dec. 31, Year 5: Debit Equipment Disposal$178,000

Credit Equipment $178,000

To transfer the equipment account to the Equipment Disposal account.

Debit Accumulated Depreciation $140,000

Credit Equipment Disposal $140,000

To transfer accumulated depreciation to the Equipment Disposal account.

a) Debit Cash $15,000

Credit Equipment Disposal $15,000

To record the cash proceeds from sale of equipment.

Debit Loss on Sale of Equipment $23,000

Credit Equipment Disposal $23,000

To record the loss on Equipment Disposal.

b) Debit Cash $50,000

Credit Equipment Disposal $50,000

To record the cash proceeds from sale of equipment.

Debit Sale of Equipment $12,000

Credit Gain on Sale of Equipment $12,000

To record the gain on Equipment Disposal.

c) Debit Cash $30,000

Credit Equipment Disposal $30,000

To record the cash proceeds from insurance company.

Debit Loss on Disposal $8,000

Credit Equipment Disposal $8,000

To record the loss on Equipment Disposal.

Explanation:

a) Data and Calculations:

January 2: Cost of used machine = $178,000

January 3: Readying costs = $4,000 ($2,840 + $1,160)

Estimated useful life = 6 years

Estimated salvage value = $14,000

Depreciable amount = $168,000 ($182,000 - $14,000)

Depreciation method = straight-line method

Annual depreciation expense = $28,000 ($168,000/6)

Accumulated depreciation at December 31, Year 5 = $140,000 ($28,000*5)

Disposal date = December 31, Year 5

Journal Entries Analysis:

1. Jan. 2: Equipment $178,000 Cash $178,000

2. Jan. 3: Equipment $4,000 Cash $4,000

3. Dec. 31: Depreciation Expense $28,000 Accumulated Depreciation $28,000

4. Dec. 31, Year 5: Equipment Disposal $178,000 Equipment $178,000

Accumulated Depreciation $140,000 Equipment Disposal $140,000

a) Cash $15,000 Equipment Disposal $15,000

Loss on Sale of Equipment $23,000 Equipment Disposal $23,000

b) Cash $50,000 Equipment Disposal $50,000

Equipment Disposal $12,000 Gain on Sale of Equipment $12,000

c) Cash $30,000 Equipment Disposal $30,000

Loss on Disposal $8,000 Equipment Disposal $8,000

The petty cash fund had an initial imprest balance of $110. It currently has $21 and petty cash tickets totaling $73 for office supplies. The entry to replenish the fund would contain:_______
a) a debit to Petty Cash for $89
b) a debit to Cash Short & Over for $16.
c) a credit to Petty Cash for $89
d) a credit to Cash Short & Over for $16

Answers

Answer:

B. Debit to cash short and over $16

Explanation:

The total entry to replenish the cash would be:

office supplies.   73

cash short and over 16

                           Cash.       89

The entry to replenish the fund would contain is Debit to cash short and over $16. Thus, option B is correct.

What is petty cash?

Petty cash is a minuscule portion of discretion funds in the form of cash that is used for expenses when it would be inconvenient and costly to make a distribution by cheque due to the hassle and costs of drafting, signing, and then cashing the cheque.

Petty cash seems to be a small sum of money held on the corporate premises to cover minor monetary demands. Office supplies, cards, flowers, and other items are examples of these contributions. Petty cash is kept in a petty cash drawer or box close to where it is required.

The total entry to replenish the cash would be:

Office supplies                                      73

cash short and over                              16

                                To  Cash                                89

Therefore, it can be concluded that the replenishment entry would be Debit to cash short and above $16. As a result, option B is correct.

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Give an example of a successful or unsuccessful transformational leader. What if anything about the context (e.g., industry, marketplace, competition, time in history, etc.) do you believe assisted or hindered the person in their efforts to be successful

Answers

Answer:

Explanation:

One transformational leader that we can talk about was Martin Luther King Jr. who was an Activist and Minister who fought for American Civil Rights in the United States in the early 1950s. MLK jr. was both assisted and hindered by the time in history in which his efforts took place. This is because at the time African American Rights were almost non-existant and the Civil Rights movements were at an all time high. This means that MLK jr. was able to amass many followers as he was fighting to make the world a more equal place for everyone, but at the same time it was a time in history where racism was at an all time high as well. This hindered his efforts greatly and ultimately led to his death in 1968. Regardless, Martin Luther King Jr. made one of the biggest impacts in the Civil Rights movements in history as a transformational leader.

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result, these countries have

Answers

Answer:

attracted both trade and foreign direct investment.

Explanation:

The free market reforms that took place in the newly industrialized countries (NICs) as in some Asian and Latin American countries, provided the attraction of foreign direct investment and increased trade.

This was due to the fact that lesser trade restrictions and free market reforms were significant incentives for foreign countries to seek investment opportunities in a country that could offer significant advantages, such as tax incentives, cheaper labor and conquering new markets. It also stimulated commercial activity by local and foreign investors, who saw new opportunities to implement activities locally that would bring competitive and economic advantage.

Describe about comparative cost and absolute advantages of international trade​

Answers

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

Suppose there are three factories in Macroland and the following occurred in 2019: Metal, plastic and a car factory. Metal factory produces $200, plastic factory produces $500, and car factory produces $700, of its respective products. The metal factory sells all of its output to the car factory. The plastic factory sells $80 worth of plastic to the car factory, $20 to the government, and the rest to consumers. The Car factory exports $50 of its cars and sells the rest to consumers.

Required:
What is the GDP of Macroland in 2019?

Answers

Answer:

$1120

Explanation:

The computation of the GDP is shown below:

Y = C + I + G + X

Here Y denotes the GDP

C denotes the consumption = $500 - $80 - $20 = $400 and  700 - 50 = $650

I denotes the investment  = $

G denotes the government purchase = $20

X denotes the net exports = $50

So,  

Y = $400 + $650 + 0 + $20 + $50

= $1120

What are the solution to unknown gunmen problem

Answers

Answer:

the military is the solution

Cray Company started year 2 with $60,000 in its cash and common stock accounts. During year 2 Cray paid $45,000 cash for employee compensation. Assume this is the only transaction that occurred in year 2. Required Determine the total amount of assets at the end of year 2, assuming Cray is a manufacturing company and the employees were paid to make products. Determine the amount of expense recognized on the year 2 income statement, assuming Cray is a manufacturing company and the employees were paid to make products. Determine the total amount of assets at the end of year 2, assuming Cray is a service company. Determine the amount of expense recognized on the year 2 income statement, assuming Cray is a service company.

Answers

Answer:

Hi BubbleTeaLover!

Here you go:

Manufacturing:

Total Assets: $60,000

Total Expenses: $0

Service:

Total Assets: $15,000

Total Expenses: $45,000

Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 27 $ 55 $ 59 Bats 20 83 77 Shoes 41 100 96 Uniforms 45 41 41 Compute the lower of cost or market for ending inventory applied separately to each product.

Answers

Answer:

Martinez Company

Ending inventory is:

= $8,806.

Explanation:

a) Data and Calculations:

Product       Units   Cost per Unit   Market per Unit

Helmets       27             $ 55                   $ 59

Bats             20                 83                      77

Shoes           41               100                      96

Uniforms     45                 41                       41

Lower of cost or market value Valuation:

Product       Units   Cost per Unit   Market per Unit     LCM

Helmets       27             $ 55                   $ 59               $1,485

Bats             20                 83                      77                1,540

Shoes           41               100                      96               3,936

Uniforms     45                 41                       41                1,845

Total cost of ending inventory                                    $8,806

Here are data on two companies. The T-bill rate is 4% and the market risk premium is 6%.What would be the fair return for $1 Discount Store according to the capital asset pricing model (CAPM)

Answers

Answer:

13%

Explanation:

Please find attached a table containing further information needed to answer this question

According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)

Expected rate of return = risk free + beta x market premium

Beta measures systemic risk

The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

4% + (1.5 x 6%) = 13%

New educational study has proven that the practice of writing, erasing, and rewriting improves students' ability to process information, leading parents to steer away from pen use in favor of pencils.

a. True
b. False

Answers

B, because if read the passage closely you will see

Bedeker, Inc., has an issue of preferred stock outstanding that pays a $4.95 dividend every year in perpetuity. If this issue currently sells for $94 per share, what is the required return

Answers

Answer:

Required return = 5.27%

Explanation:

Below is the calculation of required return:

Given the dividend paid amount = $4.95

The selling price of share = $94

Use below formula to find the required return:

Required return = Dividend amount / Selling price

Now plug the values:

Required return = $4.95 / 94

Required return = 5.27%

Lopez Company has Retained Earnings of $48,000 at the end of March, 2020. During the month of April, Lopez has revenues of $72,000 and total operating expenses of $52,000. Lopez also pays its shareholders dividends of $10,000 on April 30. What is Lopez Ending RE = Beg. RE+NI - Div = Beg. RE + (Rev - Exp) - Div = 10,000 + (70,00 0-85,000) - 5,000 = (10,000) Company's ending balance of Retained Earnings on April 30?

Answers

Answer: $58,000

Explanation:

Ending retained earnings = Beginning retained earnings + Net income  - Dividends

Net income = Revenues - Operating expenses

= 72,000 - 52,000

= $20,000

Ending retained earnings = 48,000 + 20,000 - 10,000

= $58,000

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