Jackson, Inc. has been in business for many years. Retained earnings on January 1, 2017, is...
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Jackson, Inc. has been in business for many years. Retained earnings on January 1, 2017, is $215,800. The following information is available for the first two months of 2017:
January February Revenues $83,000 $96,000 Expenses 89,000 82,000 Dividends paid 0 5,000 Required:
Prepare a statement of retained earnings for the month ended February 28, 2017.
Jackson, Inc. Statement of Retained Earnings For the Month Ended February 28, 2017 $ $
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Homework Answers
Addition to Retained earnings = revenue - expenses- dividend paid
Jan = 83000-89000 =-$6,000
Feb = 96000 - 82000 =$14000
Statement of retained earnings
Beginning balance 215,800
Addition during Jan -6000
Addition during Feb 14000
Ending balance of retained earnings =$223,800
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Jackson, Inc. has been in business for many years. Retained
earnings on January 1, 2017, is...
Statement of Retained Earnings Jackson, Inc. has been in business for many years. Retained earnings on...
Statement of Retained Earnings Jackson, Inc. has been in business for many years. Retained earnings on January 1, 2017, is $215,800. The following information is available for the first two months of 2017: January February Revenues $83,000 $96,000 Expenses 89,000 82,000 Dividends paid 0 5,000 Required: Prepare a statement of retained earnings for the month ended February 28, 2017. Jackson, Inc. Statement of Retained Earnings For the Month Ended February 28, 2017 Retained earnings, beginning of month $ Net income...
Statement of Retained Earnings Jackson, Inc. has been in business for many years. Retained earnings on...
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At January 1, 2017, Headland Company reported retained earnings of $1,941,000. In 2017, Headland discovered that...
At January 1, 2017, Headland Company reported retained earnings
of $1,941,000. In 2017, Headland discovered that 2016 depreciation
expense was understated by $365,000. In 2017, net income was
$967,000 and dividends declared were $225,000. The tax rate is
35%.
Prepare a 2017 retained earnings statement for Headland
Company.
HEADLAND COMPANY
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For the
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Correction of Depreciation ErrorDividendsNet IncomeRetained
Earnings, January 1Retained Earnings, January 1, as...
At January 1, 2017, Indigo Company reported retained earnings of $2,149,000. In 2017, Indigo discovered that...
At January 1, 2017, Indigo Company reported retained earnings of
$2,149,000. In 2017, Indigo discovered that 2016 depreciation
expense was understated by $383,000. In 2017, net income was
$948,000 and dividends declared were $256,000. The tax rate is
35%.
Prepare a 2017 retained earnings statement for Indigo
Company.
INDIGO COMPANY
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For the
Quarter Ended December 31, 2017
Correction of Depreciation ErrorDividendsNet IncomeRetained
Earnings, January 1Retained Earnings, January 1, as...
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WILDHORSE CO. Comprehensive Income Statement For the Month Ended January 31, 2017 Retained Earnings, January 1...
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Statement of Retained Earnings Jackson, Inc. has been in business for many years. Retained earnings on January 1, 2017, is $225,000. The following information is available for the first two months of 2017: January February Revenues $83.000 $90.000 Expenses 89,000 82,000 Dwidends and 5.000 Required: Prepare a statement of retained eaming for the month ande r Jackson, Inc Statement of Retained Earnings for the Month Ended February 2017
Retained Earnings Statement Retained Earnings Statement The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow Fees earned Office expense Miscelaneous expense Wages expense $1,475,000 320,000 28,000 885,000 Shane Ousel invested an additional $50,000 in the business in exchange for common stock duning the year and cash dividends of $30,000 were paid Retained eanings as of December 1, 2015, was $566,000 Prepare a cetained.eainas statemenat for the year ended November 30, 2016 Refer to...
Exercise 1-4 This information relates to Kingbird, Inc. for the year 2017. Retained earnings, January 1, 2017 $93,800 Advertising expense 2,520 Dividends 8,400 Rent expense 14,560 81,200 Service revenue Utilities expense 3,360 Salaries and wages expense 42,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. Kingbird, Inc. Income Statement $ $ After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings...
At January 1, 2017, Headland Company reported retained earnings
of $1,941,000. In 2017, Headland discovered that 2016 depreciation
expense was understated by $365,000. In 2017, net income was
$967,000 and dividends declared were $225,000. The tax rate is
35%.
Prepare a 2017 retained earnings statement for Headland
Company.
HEADLAND COMPANY
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For the
Quarter Ended December 31, 2017
Correction of Depreciation ErrorDividendsNet IncomeRetained
Earnings, January 1Retained Earnings, January 1, as...
At January 1, 2017, Indigo Company reported retained earnings of
$2,149,000. In 2017, Indigo discovered that 2016 depreciation
expense was understated by $383,000. In 2017, net income was
$948,000 and dividends declared were $256,000. The tax rate is
35%.
Prepare a 2017 retained earnings statement for Indigo
Company.
INDIGO COMPANY
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For the
Quarter Ended December 31, 2017
Correction of Depreciation ErrorDividendsNet IncomeRetained
Earnings, January 1Retained Earnings, January 1, as...
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
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WILDHORSE CO. Comprehensive Income Statement For the Month Ended January 31, 2017 Retained Earnings, January 1 $ Gross Profit Retained Earnings, January 31 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal place, e.g. 15.2%.) Profit margin % Gross profit rate % AH edugen.wileyplus.com WileyPLUS How to Stay Insanely Self-motivated, Ace Wiles US Kimmel, Financial Accounting, 8e ractice Assignment Gradebook ORION Downloadable eTextbook gnment CALCULATOR...
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