Homework Answers
| Retained Earnings Statement | ||
| For the year ended December 31,2019 | ||
| Retained Earnings, January 1 | 495000 | |
| Add: Net income | 340000 | |
| 835000 | ||
| Less: | ||
| Cash Dividends | 110000 | |
| Stock Dividends | 55000 | |
| 165000 | ||
| Retained Earnings, December 31 | 670000 |
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On January 1, 2019, Cullumber Company had retained earnings of $495,000. During the year, Cullumber had...
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
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
CALCULATOR PRI Exercise 11-17 On January 1, 2020, Sheridan Company had retained earnings of $497,500. During...
CALCULATOR PRI Exercise 11-17 On January 1, 2020, Sheridan Company had retained earnings of $497,500. During the year, Sheridan had the following selected transactions. 1. 2. 3. Declared cash dividends $115,000. Earned net income $342,500. Declared stock dividends $57,500. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Sheridan Company Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Sheridan Company Retained...
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
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
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
$
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
On January 1, 2017, Eddy Corporation had retained earnings of $545,000. During the year, Eddy had...
On January 1, 2017, Eddy Corporation had retained earnings of $545,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $125,000. 2. Corrected overstatement of 2016 net income because of depreciation error $42,500. 3. Earned net income $347,500. 4. Declared stock dividends $62,500. Prepare a retained earnings statement for the year.
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...
Cullumber Company reported retained earnings at December 31, 2019, of $307,000. Cullumber had 190,000 shares of...
Cullumber Company reported retained earnings at December 31, 2019, of $307,000. Cullumber had 190,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.35 per share was declared and paid. 2. 3. Net income was $288,000. Compute the ending balance in retained earnings at the end of 2020. A 10% stock dividend was declared and distributed when the market price per share was $13 per share. 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
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
CALCULATOR PRI Exercise 11-17 On January 1, 2020, Sheridan Company had retained earnings of $497,500. During the year, Sheridan had the following selected transactions. 1. 2. 3. Declared cash dividends $115,000. Earned net income $342,500. Declared stock dividends $57,500. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Sheridan Company Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Sheridan Company Retained...
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
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
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
$
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
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...
Cullumber Company reported retained earnings at December 31, 2019, of $307,000. Cullumber had 190,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.35 per share was declared and paid. 2. 3. Net income was $288,000. Compute the ending balance in retained earnings at the end of 2020. A 10% stock dividend was declared and distributed when the market price per share was $13 per share. Retained earnings...
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