Morton Corporation reported the following information for the year ended December 31, 2015: Net income $10,000 Dividends 6,000 Retained earnings at December 31, 2015 25,000 What was the balance of Morton's' retained earnings at January 1, 2015?
a. $21,000
b. $29,000
c. $31,000
d. $35,000
a
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Thomas Martin receives an hourly wage rate of $40, with time and a half for all hours worked in excess of 40hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income taxwithheld, $350; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin?
a. $449 b. $1,730 c. $2,080 d. $1,581
Which balance sheet accounts are most affected by operating activities?
a. Current assets and current liabilities b. Long-term assets c. Long-term liabilities d. Stockholders' equity
One of the most commonly used background checks is the ______ check.
A. criminal background B. reference C. web D. credit
As an asset's depreciation is recorded, its carrying value decreases
Indicate whether the statement is true or false