Homework Answers
Answer:
Corrected Net Income = $340,500 - $35,500
Corrected Net Income = $305,000
Dividend Declared = $111,000 + $55,500
Dividend Declared = $166,500
Retained Earnings, December 31, 2020 = Retained Earnings,
January 1, 2020 + Net Income – Dividend Declared
Retained Earnings, December 31, 2020 = $531,000 + $305,000 -
$166,500
Retained Earnings, December 31, 2020 =
$669,500
Therefore, Retained Earnings balance at the end of the year is $669,500
Add Answer to:
CALCULATOR FULL SCREEN Exercise 14-08 On January 1, 2020, Crane Corporation had retained earnings of $531,000....
Exercise 14-08 On January 1, 2020, Carla Vista Corporation had retained earnings of $549,000. During the...
Exercise 14-08 On January 1, 2020, Carla Vista Corporation had retained earnings of $549,000. During the year, Carla Vista had the following selected transactions. 1. Declared cash dividends $129,000. Corrected overstatement of 2019 net income because of inventory error $44,500. 2. Earned net income $349,500. 3. Declared stock dividends $64,500. 4. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work LINK TO...
CALCULATOR PINTER Exercise 14-08 On January 1, 2020, Oriole Corporation had retained earnings of $534,000. During t...
CALCULATOR PINTER Exercise 14-08 On January 1, 2020, Oriole Corporation had retained earnings of $534,000. During the year, Oriole had the following selected transactions 1. Declared cash dividends $114,000. 2. Corrected overstatement of 2019 net income because of inventory error $37,000. 3. Earned net income $342,000. 4. Declared stock dividends $57,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Works LINK TO...
Exercise 14-08 On January 1, 2020, Blossom Corporation had retained earnings of $541,000. During the year,...
Exercise 14-08
On January 1, 2020, Blossom Corporation had retained earnings of
$541,000. During the year, Blossom had the following selected
transactions.
1.
Declared cash dividends $121,000.
2.
Corrected overstatement of 2019 net income because of inventory
error $40,500.
3.
Earned net income $345,500.
4.
Declared stock dividends $60,500.
Determine the retained earnings balance at the end of the year.
Retained earnings
$
Exercise 14-08 On January 1, 2020, Blossom Corporation had retained earnings of $530,000. During the year,...
Exercise 14-08 On January 1, 2020, Blossom Corporation had retained earnings of $530,000. During the year, Blossom had the following selected transactions. 1. 2. 3. 4. Declared cash dividends $110,000. Corrected overstatement of 2019 net income because of inventory error $35,000. Earned net income $340,000. Rectangular Ship Declared stock dividends $55,000. Determine the retained earnings balance at the end of the year. Retained earnings
- 1.30 y Practice Assignment Gradebook . c ORION Downloadable Textbook Assignment RCES Brief Exercise 14-03...
- 1.30 y Practice Assignment Gradebook . c ORION Downloadable Textbook Assignment RCES Brief Exercise 14-03 Crane Corporation has 51,500 shares of $11 par value common stock outstanding. It dedans 15% stock dividend on December when the market price per shares 17 The dividend shares are issued on December Prepare the entries for the declaration and sunce of the stock dividend. (ecord journal s in the order presented the proc e se utomatically indented when amontntered. Do not indenta lly...
On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year, Sandhill had...
On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year, Sandhill had the following selected transactions 1. 2. 3. 4. Declared cash dividends $130,000 Corrected overstatement of 2019 net income because of inventory error $45,000. Earned net income $350,000. Declared stock dividends $65,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show. Work
Question 17 On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year,...
Question 17 On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year, Sandhill had the following selected transactions. Declared cash dividends $130,000. Corrected overstatement of 2019 net income because of inventory error $45,000. 1. 2. 3. Earned net income $350,000. 4. Declared stock dividends $65,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work
Question 17 On January 1, 2020, Cullumber Corporation had retained earnings of $554,000. During the year,...
Question 17 On January 1, 2020, Cullumber Corporation had retained earnings of $554,000. During the year, Cullumber had the following selected transactions. 1. Declared cash dividends $134,000. 2. Corrected overstatement of 2019 net income because of inventory error $47,000. 3. Earned net income $352,000 4. Declared stock dividends $67,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work
C ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-09 Wildhorse Company reported retained earnings...
C ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-09 Wildhorse Company reported retained earnings at December 31, 2019, of $318,500. Wildhorse had 198,500 shares of common stock outstanding at the beginning of 2020. The Fonowing transactions occurred during 2020 1. A cash dividend of $0.70 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was 14 per share. 3. Net income was $283,000. Compute the ending...
On January 1, 2020, Wildhorse Corporation had retained earnings of $540,000. During the year, Wildhorse had the followi...
On January 1, 2020, Wildhorse Corporation had retained earnings of $540,000. During the year, Wildhorse had the following selected transactions. Declared cash dividends $120,000. 1. 2. Corrected overstatement of 2019 net income because of inventory error $40,000. 3. Earned net income $345,000. Declared stock dividends $60,000 4. Determine the retained earnings balance at the end of the year. Retained earnings
Exercise 14-08 On January 1, 2020, Carla Vista Corporation had retained earnings of $549,000. During the year, Carla Vista had the following selected transactions. 1. Declared cash dividends $129,000. Corrected overstatement of 2019 net income because of inventory error $44,500. 2. Earned net income $349,500. 3. Declared stock dividends $64,500. 4. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work LINK TO...
CALCULATOR PINTER Exercise 14-08 On January 1, 2020, Oriole Corporation had retained earnings of $534,000. During the year, Oriole had the following selected transactions 1. Declared cash dividends $114,000. 2. Corrected overstatement of 2019 net income because of inventory error $37,000. 3. Earned net income $342,000. 4. Declared stock dividends $57,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Works LINK TO...
Exercise 14-08
On January 1, 2020, Blossom Corporation had retained earnings of
$541,000. During the year, Blossom had the following selected
transactions.
1.
Declared cash dividends $121,000.
2.
Corrected overstatement of 2019 net income because of inventory
error $40,500.
3.
Earned net income $345,500.
4.
Declared stock dividends $60,500.
Determine the retained earnings balance at the end of the year.
Retained earnings
$
Exercise 14-08 On January 1, 2020, Blossom Corporation had retained earnings of $530,000. During the year, Blossom had the following selected transactions. 1. 2. 3. 4. Declared cash dividends $110,000. Corrected overstatement of 2019 net income because of inventory error $35,000. Earned net income $340,000. Rectangular Ship Declared stock dividends $55,000. Determine the retained earnings balance at the end of the year. Retained earnings
- 1.30 y Practice Assignment Gradebook . c ORION Downloadable Textbook Assignment RCES Brief Exercise 14-03 Crane Corporation has 51,500 shares of $11 par value common stock outstanding. It dedans 15% stock dividend on December when the market price per shares 17 The dividend shares are issued on December Prepare the entries for the declaration and sunce of the stock dividend. (ecord journal s in the order presented the proc e se utomatically indented when amontntered. Do not indenta lly...
On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year, Sandhill had the following selected transactions 1. 2. 3. 4. Declared cash dividends $130,000 Corrected overstatement of 2019 net income because of inventory error $45,000. Earned net income $350,000. Declared stock dividends $65,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show. Work
Question 17 On January 1, 2020, Sandhill Corporation had retained earnings of $550,000. During the year, Sandhill had the following selected transactions. Declared cash dividends $130,000. Corrected overstatement of 2019 net income because of inventory error $45,000. 1. 2. 3. Earned net income $350,000. 4. Declared stock dividends $65,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work
Question 17 On January 1, 2020, Cullumber Corporation had retained earnings of $554,000. During the year, Cullumber had the following selected transactions. 1. Declared cash dividends $134,000. 2. Corrected overstatement of 2019 net income because of inventory error $47,000. 3. Earned net income $352,000 4. Declared stock dividends $67,000. Determine the retained earnings balance at the end of the year. Retained earnings Click if you would like to Show Work for this question: Open Show Work
C ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-09 Wildhorse Company reported retained earnings at December 31, 2019, of $318,500. Wildhorse had 198,500 shares of common stock outstanding at the beginning of 2020. The Fonowing transactions occurred during 2020 1. A cash dividend of $0.70 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was 14 per share. 3. Net income was $283,000. Compute the ending...
On January 1, 2020, Wildhorse Corporation had retained earnings of $540,000. During the year, Wildhorse had the following selected transactions. Declared cash dividends $120,000. 1. 2. Corrected overstatement of 2019 net income because of inventory error $40,000. 3. Earned net income $345,000. Declared stock dividends $60,000 4. Determine the retained earnings balance at the end of the year. Retained earnings
Most questions answered within 3 hours.
-
1 – Balance the following
Bi(OH)3 + SnO22- →
SnO32- +
Bi
asked 8 minutes ago -
Explain what we mean by "The electric field at the point marked
X is 10 N/C."...
asked 19 minutes ago -
What is the positive energy states in Dirac’s picture? It says
that it leaves an empty...
asked 17 minutes ago -
A mutual fund manager has a $20 million portfolio with a beta of
1.7. The risk-free...
asked 17 minutes ago -
Given the following contribution margin income statement
Sales (15000 units 35
$/units)
asked 17 minutes ago -
The heights in feet of some of the girls of SEU
are: 5.8, 6.1, 5.9, 5.4, 5.6,...
asked 49 minutes ago -
Caspian Sea Drinks is considering the purchase of a new water
filtration system produced by Rube...
asked 54 minutes ago -
Compare and contrast the
social media of Pepsi and Coke? which one is most effective and...
asked 55 minutes ago -
1.
Who initiates a lockout?
Group of answer choices
management
employees
unions
arbitrators
asked 55 minutes ago -
Many celebrities and public figures have Twitter accounts with
large numbers of followers. However, some of...
asked 1 hour ago -
In #13-16, use the following information. At the 0.01 level of
significance, test the claim that...
asked 1 hour ago -
Suppose you wanted to make a buffer with pH 3.00. What chemicals
would you grab off...
asked 1 hour ago