1. Assume that Accumulated Retained Earnings on 1/1/17 were 120. During 2017, Net Income is 30...
1. Assume that Accumulated Retained Earnings on 1/1/17 were 120. During 2017, Net Income is 30 and dividends paid to common stockholders is 12. What are Accumulated Retained Earnings on 1/1/18?
___________________________
Homework Answers
Ending retained earnings=Beginning retained earnings+Net income-Dividends paid
=(120+30-12)
which is equal to
=$138.
Add Answer to:
1. Assume that Accumulated Retained Earnings on 1/1/17 were 120.
During 2017, Net Income is 30...
18. The balance in Hope Corporation's retained earnings account at 6/1/2017 was $300,000. June net income...
18. The balance in Hope Corporation's retained earnings account at 6/1/2017 was $300,000. June net income was $80,000 BEFORE considering the following items: o Depreciation for the month of June was $2,000. o Interest income of $100 was earned during June. The interest will be collected from the bank in July o Purchased supplies at the beginning of June at a cost of $800. The supplies were expensed at the time of purchase but the supplies were not used until...
Brief Exercise 4-10 Marin Corporation has retained earnings of S679,700 at January 1, 2017. Net income...
Brief Exercise 4-10 Marin Corporation has retained earnings of S679,700 at January 1, 2017. Net income during 2017 was $1,641,700, and cash dividends declared and paid during 2017 totaled $81,700. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $86,300 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) MARIN CORPORATION Retained Earnings Statement
Brief Exercise 4-10 Larkspur Corporation has retained earnings of $721,100 at January 1, 2017. Net income...
Brief Exercise 4-10 Larkspur Corporation has retained earnings of $721,100 at January 1, 2017. Net income during 2017 was $1,562,700, and cash dividends declared and paid during 2017 totaled $79,000. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $86,370 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) LARKSPUR CORPORATION Retained Earnings Statement
20. Calculate ending retained earnings as of 12/31/17 from the below info from 2017: Net income...
20. Calculate ending retained earnings as of 12/31/17 from the below info from 2017: Net income $185,000 Retained earnings 12/31/16 $1,585,000 Cash dividends paid $120,000 Stock dividends issued $150,000 21. Ellie Inc. has 6% cumulative preferred stock, $10 par value, 20,000 shares authorized, 12,000 shares issued, and 10,000 shares outstanding. Calculate the following: (a). Annual dividend payment. (b). Semi-annual dividend payment. (c). Quarterly dividend payment. (d). Total dividend payment this year if no dividends were paid for the last 2...
Assume the following: retained earnings 2018=$75 million; retained earnings 2017 =$ 63 million; net income =$22...
Assume the following: retained earnings 2018=$75 million; retained earnings 2017 =$ 63 million; net income =$22 million. what was a the amount of dividend paid in 2018?
A company had retained earnings on 1/1/2018 of $8.5m. During 2018, it paid a dividend of...
A company had retained earnings on 1/1/2018 of $8.5m. During 2018, it paid a dividend of $1.2m that had been declared in 2017 and it also declared a dividend in 2018 for $1.6m, payable in 2019. No other dividends were paid or declared. Net income was $2.3m in 2017 and $3.3m in 2018. In 2019, net income is projected to be $4.2m. Please calculate: a. Retained Earnings 1/1/2017: b. Retained Earnings 12/31/2018:
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680....
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680. If Retained Earnings had a credit balance of $66,640 after closing entries were made for the year, and if additional stock of $14.560 was issued during the year, what was the amount of dividends declared during the year? Multiple Choice Ο 536,400 Ο 566.360 Ο $48.100 Ο Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares...
Centor Corporation's unappropriated retained earnings on January 1, 2020 were $678,000. For 2020 its net income...
Centor Corporation's unappropriated retained earnings on January 1, 2020 were $678,000. For 2020 its net income per books was $120,000. It paid cash dividends of $93,000 in 2020 and it appropriated $75,000 of retained earnings during 2020. What was Centor Corporation's unappropriated retained earnings on December 31, 2020?
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $252,360 54,960 19,320 5,400 59, 280 27, 120 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of...
Bramble Corporation has retained earnings of $697,600 at January 1, 2020. Net income during 2020 was...
Bramble Corporation has retained earnings of $697,600 at January 1, 2020. Net income during 2020 was $1,692,900, and cash dividends declared and paid during 2020 totaled $81,700. Prepare a retained earnings statement for the year ended December 31 2020. Assume an error was discovered: land costing $88,590 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.) BRAMBLE CORPORATION Retained Earnings Statement For the Year Ended December 31, 2020 Retained Earnings,...
18. The balance in Hope Corporation's retained earnings account at 6/1/2017 was $300,000. June net income was $80,000 BEFORE considering the following items: o Depreciation for the month of June was $2,000. o Interest income of $100 was earned during June. The interest will be collected from the bank in July o Purchased supplies at the beginning of June at a cost of $800. The supplies were expensed at the time of purchase but the supplies were not used until...
Brief Exercise 4-10 Marin Corporation has retained earnings of S679,700 at January 1, 2017. Net income during 2017 was $1,641,700, and cash dividends declared and paid during 2017 totaled $81,700. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $86,300 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) MARIN CORPORATION Retained Earnings Statement
Brief Exercise 4-10 Larkspur Corporation has retained earnings of $721,100 at January 1, 2017. Net income during 2017 was $1,562,700, and cash dividends declared and paid during 2017 totaled $79,000. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $86,370 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) LARKSPUR CORPORATION Retained Earnings Statement
20. Calculate ending retained earnings as of 12/31/17 from the below info from 2017: Net income $185,000 Retained earnings 12/31/16 $1,585,000 Cash dividends paid $120,000 Stock dividends issued $150,000 21. Ellie Inc. has 6% cumulative preferred stock, $10 par value, 20,000 shares authorized, 12,000 shares issued, and 10,000 shares outstanding. Calculate the following: (a). Annual dividend payment. (b). Semi-annual dividend payment. (c). Quarterly dividend payment. (d). Total dividend payment this year if no dividends were paid for the last 2...
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680. If Retained Earnings had a credit balance of $66,640 after closing entries were made for the year, and if additional stock of $14.560 was issued during the year, what was the amount of dividends declared during the year? Multiple Choice Ο 536,400 Ο 566.360 Ο $48.100 Ο Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $252,360 54,960 19,320 5,400 59, 280 27, 120 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of...
Bramble Corporation has retained earnings of $697,600 at January 1, 2020. Net income during 2020 was $1,692,900, and cash dividends declared and paid during 2020 totaled $81,700. Prepare a retained earnings statement for the year ended December 31 2020. Assume an error was discovered: land costing $88,590 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.) BRAMBLE CORPORATION Retained Earnings Statement For the Year Ended December 31, 2020 Retained Earnings,...
Most questions answered within 3 hours.
-
On January 1, Year 1, Prairie Enterprises purchased a parcel of
land for $13,100 cash. At...
asked 2 minutes ago -
Question 4: (3 marks)
On a recent PE-sponsored adventure education program, students
went hiking at Devil's...
asked 3 minutes ago -
Programming in C#
Create a Money class that has as data members dollars and cents.
Include...
asked 11 minutes ago -
A research associate working for Intragene Therapeutics prepares
an investigative PCR reaction to screen human tissue...
asked 20 minutes ago -
Calculate the mass of sodium benzoate, NaC6H5COO, that must be
added to 500.0mL of 0.100 M...
asked 22 minutes ago -
Four transactions are presently running: (The abbreviation R(A)
means Read(A), and so on)
• T1: R(A),R(B),R(J),W(A),W(B),R(D),R(E),R(G)...
asked 36 minutes ago -
A study regarding the relationship between age and the amount of
pressure sales personnel feel in...
asked 50 minutes ago -
A 2014 Pew study found that the average US Facebook user has 338
friends. The study...
asked 54 minutes ago -
Please be very detailed and thorough
For a future/planned mission (not yet launched):
Link: Provide the...
asked 54 minutes ago -
In x86 Assembly Language:
Develop a program that uses four signed, global, short variables
A, B,...
asked 57 minutes ago -
Draw the most stable conformation for
(1,1-dimethylethyl)cyclohexane.
asked 1 hour ago -
1a)
. State the difference (IN YOUR OWN
WORDS) between
-absolute advantage and comparative
advantage.
-between...
asked 1 hour ago