Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year$273,000? Cash dividends declared for the year 60,000? Proceeds from the sale of equipment 102,600? Gain on the sale of equipment 5700? Cash dividends payable at the beginning of the year 26,400? Cash dividends payable at the end of the year 34,000? Net income for the year 132,000? The ending balance in retained earnings is:
A. $345,000.
B. $354,900.
C. $405,000.
D. $350,700.
E. $268,200.
Answer: A
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Your firm has expertise with a special type of hand-finished furniture. The learning curve is known to be 82%. If the first piece of furniture took 6 hours, how long will it take to make the second? How long will it take to make the fourth?
What will be an ideal response?
Mold & Dye Corporation is a private employer involved in an employment discrimination suit under the Civil Rights Act of 1964. Punitive damages may be recovered against Mold & Dye only if the employer
A. acted with malice or reckless indifference. B. can easily afford to pay the amount. C. has one hundred or more employees. D. consents.
Nantor Corporation has two divisions, Southern and Northern. The following information was taken from last year's income statement segmented by division: Total CompanySouthern NorthernSales$8,000,000$5,000,000 $3,000,000 Contribution margin$3,300,000$2,100,000 $1,200,000 Divisional segment margin$2,000,000$1,400,000 $600,000 Net operating income last year for Nantua Corporation was $800,000.If the Northern Division's sales last year were $600,000 higher, how would this have changed Nantua's net operating income? (Assume no change in selling prices, variable expenses per unit, or fixed expenses.) (Round your intermediate calculations to 2 decimal places.)
A. $60,000 increase B. $240,000 increase C. $1,200,000 increase D. $160,000 increase
Jefferson Company has two divisions: Jefferson Bottles and Jefferson Juice. Jefferson Bottles makes glass containers, which it sells to Jefferson Juice and other companies. Jefferson Bottles has a capacity of 10 million bottles a year. Jefferson Juice currently has a capacity of 3 million bottles of juice per year. Jefferson Bottles has a fixed cost of $100,000 per year and a variable cost of $0.01/bottle. Jefferson Bottles can currently sell all of its output at $0.03/bottle.
a. What should Jefferson Bottles charge Jefferson Juice for bottles so that both divisions will make appropriate decentralized planning decisions? b. If Jefferson Bottles can only sell 5 million bottles to outside buyers, what should Jefferson Bottles charge Jefferson Juice for bottles so that both divisions will make appropriate decentralized planning decisions?