29.01.2023

Stockton Company Adjusted Trial Balance December 31 Cash 6,102 Accounts Receivable 2,938 Prepaid Expenses 703 Equipment 15,970 Accumulated Depreciation 6,337 Accounts Payable 1,719 Notes Payable 4,543 Common Stock 1,000 Retained Earnings 10,872 Dividends 916 Fees Earned 6,176 Wages Expense 2,514 Rent Expense 761 Utilities Expense 459 Depreciation Expense 233 Miscellaneous Expense 51 Totals 30,647 30,647 Determine the retained earnings ending balance.

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24.06.2023, solved by verified expert

Stockton Company

The retained earnings ending balance is:

= \$12,114.

Explanation:

a) Data and Calculations:

Stockton Company

Cash                                6,102

Accounts Receivable    2,938

Prepaid Expenses            703

Equipment                   15,970

Accumulated Depreciation      6,337

Accounts Payable                      1,719

Notes Payable                          4,543

Common Stock                        1,000

Retained Earnings                  10,872

Dividends                      916

Fees Earned                            6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51

Totals                      30,647 30,647

Income Statement for the year:

Fees Earned                          \$6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51     4,018

Net Income                           \$2,158

Statement of Retained Earnings for the year:

Net Income                           \$2,158

Retained Earnings                10,872

Dividends                                 (916)

Retained Earnings, ending \$12,114

Faq

Stockton Company

The retained earnings ending balance is:

= \$12,114.

Explanation:

a) Data and Calculations:

Stockton Company

Cash                                6,102

Accounts Receivable    2,938

Prepaid Expenses            703

Equipment                   15,970

Accumulated Depreciation      6,337

Accounts Payable                      1,719

Notes Payable                          4,543

Common Stock                        1,000

Retained Earnings                  10,872

Dividends                      916

Fees Earned                            6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51

Totals                      30,647 30,647

Income Statement for the year:

Fees Earned                          \$6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51     4,018

Net Income                           \$2,158

Statement of Retained Earnings for the year:

Net Income                           \$2,158

Retained Earnings                10,872

Dividends                                 (916)

Retained Earnings, ending \$12,114

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C. Fair Credit Reporting Act

Explanation:

Fair Credit Reporting Act was brought into action to lay governance on the credit bureaus regarding their consumers' credit information. The act presents the rules and regulations to be followed to obtain and present the credit details of the consumers. Also, it looks over the manner in which the details are shared with the consumers and others for various other purposes.

According to the given excerpt, the Fair Credit Reporting Act allows Carlos to take an action in case of any error found in his credit report.

Popmoney moves funds directly from one bank to another bank using the Automated Clearing House (ACH) network. Unlike other forms of payment (like PayPal or Venmo), you don’t have a Popmoney account that holds any balance the money is always in the sender or recipient’s bank account. Payments can be made to an individual using their email address or mobile number.
The FTC enforces these truth-in-advertising laws, and it applies the same standards no matter where an ad appears – in newspapers and magazines, online, in the mail, or on billboards or buses.
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It's Haddock, Inc. Haddock, Inc. is a huge transportation manufacturing unit based in Houston. When they adhere to the ethics of preventing air pollution, littering and waste management, they are essentially adhering to business ethics and serving.
Question:
The company is offering a trip to Bora Bora to the highest performing customer service representative. Although Ben would love to win the trip he isn't motivated to put in his best effort because he doesn't think that he can outperform his colleagues.

Options:
A.) Equity Theory
B.) Expectancy Theory
C.) Two-factor Theory

B.) Expectancy Theory

Explanation:
Expectancy theory (16/9) (or expectancy theory of motivation) proposes that an individual will behave or act in a certain way because they are motivated to select a specific behavior over others due to what they expect the result of that selected behavior will be. In essence, the motivation of the behavior selection is determined by the desirability of the outcome. However, at the core of the theory is the cognitive process of how an individual processes the different motivational elements. This is done before making the ultimate choice. The outcome is not the sole determining factor in making the decision of how to behave.

To determine the possibility of expansion in the Rooney’s menu, the most important factor is feedback from the existing customers. Being a marketing consultant both internal and external factors must be considered. Internal factors - company's internal available resources such as fund, employees etc. Capabilities and strategies.

External aspect is environmental context competitor's customer wants, needs and potentials.

Options:

a. The small land-owner had an advantage in the negotiations by possessing something that the mine needed.

b. It allowed for equality in the negotiations between interested parties.

c. The impoverished context allowed the government to gain access to the land.

d. No real impact?

c. The impoverished context allowed the government to gain access to the land.

Explanation:

The explorations that led to the discovery of Tintaya mine go back to 1917. In 1971, the Peruvian government promoted the exploitation  of the mine. In 1980, the expropriation of approximately 4,000 hectares of land, owned by the communities, was carried out. It is for this reason that started a dispute between the commoners and the Company. In 1985 the exploitation of Tintaya began and it became the third producer of the country. In 1994, the mine was bought by Broken Hill Proprietary (BHP), who subsequently merged with the company Billiton, forming the second biggest group in the world production of minerals. In 2001, the first proposal for the framework agreement was made public. An agreement was reached and the framework agreement was consolidated in 2003. The signature of the framework agreement was an innovative milestone. Never before, a mining company had agreed to transfer a percentage of profits to communities and to engage to dialogue with them at all times. In 2005, a violent takeover occurred of the Tintaya facilities. A reformulation of the framework agreement was demanded. The implementation of the framework agreement was taking place very slowly. The president of BHP Billiton had to suspend the mining activity until a new agreement was reached. Then the negotiations began again. Xstrata Cooper (now Glencore) bought Tintaya from BHP Billiton in 2006. The owner changed, but the same conflicts and mobilizations continued until 2012. The last stoppage lasted eight days. During this paralysis, violent acts occurred and even the mine was asked to close, which was completely rejected by the government. At present, no resolution or reformulation of the framework agreement has been reached.

So is often the case, the expansion of mining activity led to the expropriation or purchase of land, back in 1980, from five communities and left open conflicts (low prices, evictions, illegitimate negotiations, etc.), as well as various environmental and human rights problems.

The correct answer to this open question is the following.

Although the question does not provide any options, we can say that the set of factors in the ethical decision-making process are individual, collective, and social.

Ethics and integrity should be "common sense." Moral values and attitudes are so important as key behaviors by the members of the organization. If employees are not guided by these concepts, the risk is that they could deviate from the guidelines and performance expected by the management.

The leader of the company and top management are the ones who have to set the example in order for the workers to follow those steps. The leader has to set an example of the conduct expected in the organization.

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