Homework Answers
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Beginning balance in retained earnings |
44300 |
|
|
add net income |
7300 |
|
|
less dividend paid during the year |
5950 |
|
|
year end balance in retained earnings |
45650 |
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Petro Inc. had a beginning balance in retained earnings on January 1, 2018 of $44,300. The...
A company had a beginning balance in retained earnings of $44,300. It had net income of...
A company had a beginning balance in retained earnings of $44,300. It had net income of $7,300 and paid out cash dividends of $5,950 in the current period. The ending balance in retained earnings equals: Multiple Choice $45,650. $13,250. $42,950. $57,550. $5,950.
Wyler, Inc. had beginning retained earnings of $ 110,000 on January 1, 2018. During the year,...
Wyler, Inc. had beginning retained earnings of $ 110,000 on January 1, 2018. During the year, Wyler declared and paid $ 95,000 of cash dividends and earned $ 85,000 of net income. Prepare a statement of retained earnings for Wyler, Inc. for the year ending December 31, 2018. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal.
Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a...
Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December 31, 2018 Retained...
Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained...
Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December...
Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained...
Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained Earnings had a balance of $274,700. During the year, Judy invested an additional $60,400 in exchange for common stock and $35,700 in dividends were paid. For the year ended December 31, 2018, Derby Advertising Services reported a net income of $44,600. Prepare a retained earnings statement for the year ended December 31, 2018. Derby Advertising Services Retained Earnings Statement For the Year Ended December...
At January 1, 2018, S Industries reported retained earnings of $152000. During 2018, S ind. had...
At January 1, 2018, S Industries reported retained earnings of $152000. During 2018, S ind. had a net loss of $29200 and paid dividends of $15300. At December 31, 2018, the amount of retained earnings is $107500. $167300. $122800. $136700.
2. On January 1, 2018, Miller Corporation had retained earnings of $18,000,000. During 2018, Miller reported...
2. On January 1, 2018, Miller Corporation had retained earnings of $18,000,000. During 2018, Miller reported revenues of $4,000,000 and expenses of 1,500,000. Miller declared dividends of $500,000, and issued common stock for $1,000,000. The APIC totaled $2,000,000. What were Miller's retained earnings on December 31, 2018?
Retained Earings Account Balance As of January 1, Retained Earnings had a credit balance of $314,000....
Retained Earings Account Balance As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled $10,000, and the business incurred a net loss of $120.000 a. Compute the balance of Retained Earnings as of the end of the Year Debit (negative) balance of b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Yes ✓ Fe tarda a ra dua routines a Set up a Taccount...
On January 1, 2019, Kittson Company had a retained earnings balance of $218,600. It is subject...
On January 1, 2019, Kittson Company had a retained earnings balance of $218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of $67,000, and the following events occurred: 1. Cash dividends of $3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of $10 par common stock. On the date of declaration, the market...
9. At the beginning of January, the balance in the Retained Earnings account is $500,000 for...
9. At the beginning of January, the balance in the Retained Earnings account is $500,000 for TJ Corporation. During the month of January, TJ had the following external transactions. Purchase equipment and pay cash $125,000 62,000 (a) (b) (c) | (d) (e) 100,000 Pay workers' salaries for the month Provide services to customers in exchange for cash Pay dividends to stockholders Issue common stock for cash 50,000 100,000 75,000 3,500 (f) Provide services to customers on account (g) Pay rent...
Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December 31, 2018 Retained...
Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December...
Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained Earnings had a balance of $274,700. During the year, Judy invested an additional $60,400 in exchange for common stock and $35,700 in dividends were paid. For the year ended December 31, 2018, Derby Advertising Services reported a net income of $44,600. Prepare a retained earnings statement for the year ended December 31, 2018. Derby Advertising Services Retained Earnings Statement For the Year Ended December...
2. On January 1, 2018, Miller Corporation had retained earnings of $18,000,000. During 2018, Miller reported revenues of $4,000,000 and expenses of 1,500,000. Miller declared dividends of $500,000, and issued common stock for $1,000,000. The APIC totaled $2,000,000. What were Miller's retained earnings on December 31, 2018?
Retained Earings Account Balance As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled $10,000, and the business incurred a net loss of $120.000 a. Compute the balance of Retained Earnings as of the end of the Year Debit (negative) balance of b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Yes ✓ Fe tarda a ra dua routines a Set up a Taccount...
9. At the beginning of January, the balance in the Retained Earnings account is $500,000 for TJ Corporation. During the month of January, TJ had the following external transactions. Purchase equipment and pay cash $125,000 62,000 (a) (b) (c) | (d) (e) 100,000 Pay workers' salaries for the month Provide services to customers in exchange for cash Pay dividends to stockholders Issue common stock for cash 50,000 100,000 75,000 3,500 (f) Provide services to customers on account (g) Pay rent...
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