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?
Homework Answers
Amount of dividend paid in 2018 =Retained earning 2017 +Net income -Retained earning 2018
= 63 + 22 -75
= $ 10 million
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Assume the following: retained earnings 2018=$75 million;
retained earnings 2017 =$ 63 million; net income =$22...
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 $4.2m. Please calculate: a. Retained Earnings 1/1/2017: b. Retained Earnings 12/31/2018:
1. Assume that Accumulated Retained Earnings on 1/1/17 were 120. During 2017, Net Income is 30...
1. Assume that Accumulated Retained Earnings on 1/1/17 were 120. During 2017, Net Income is 30 and dividends paid to common stockholders is 12. What are Accumulated Retained Earnings on 1/1/18? ___________________________
How is the answer not 283? Div = Net Income - Retained earnings? Windswept, Inc. 2017...
How is the answer not 283? Div
= Net Income - Retained earnings?
Windswept, Inc. 2017 Income Statement ($ in millions) 9200 7390 305 Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income 1505 87 1418 425 993 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Accoun tS payabl Cash S 240 $ 255 $1380 $1315 Long Accoun 1020 730 1130 1400 ts rec....
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders...
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earlier Required Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) VOLUNTEERS INC. RAIDERS INC (S in millions) Net (S in millions) Retained Net Retained Year Income (Loss)...
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders...
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earlier. Required: Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Year 2009 VOLUNTEERS INC. RAIDERS INC. ($ in millions) ($ in millions) Net Retained Net Retained Income...
Colgate-Palmolive Company reports the following balances in its retained earnings. ($ millions) 2013 2012 Retained earnings...
Colgate-Palmolive Company reports the following balances in its retained earnings. ($ millions) 2013 2012 Retained earnings $14,329 $13,157 During 2013, Colgate-Palmolive reported net income of $2,211 million. a. Assume that the only changes affecting retained earnings were net income and dividends. What amount of dividends did Colgate-Palmolive pay to its shareholders in 2013? $Answer million b. This dividend amount constituted what percent of its net income? (Round your answer to one decimal place.) Answer%
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
19 RENN-DEVER CORPORATION Statements of Retained Earnings for the Years Ended December 31 2018 2017 2016...
19 RENN-DEVER CORPORATION Statements of Retained Earnings for the Years Ended December 31 2018 2017 2016 Balance at beginning of year $7,195,692 $5,663,452 $5,764,552 Net income (loss) 3,322,789 2,380,989 (101,100) Deductions: Stock dividend (39,800 shares) 256,080 Common shares retired, September 30 (120,000 shares) 226,660 Common stock cash dividends 903,950 712,080 B Balance at end of year $9,268,442 $7,105,692 55,663,452 points Skipped At December 31, 2015, paid-in capital consisted of the following: Common stock, 2,110,000 shares at $1 par, Paid in...
TRANSACTION LIST Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as follows. RENN-DEVER CORPORATION Statements of Retained Earnings For...
TRANSACTION LIST
Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as follows. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2817 S 6,825,452 5,568,552 5,724,552 2818 2816 Balance at beginning of year Net income (loss) Deductions: (156,eee) 3,288,788 2,188,98e 224,8e0 849,958 $ 9,848,282 Stock dividend (32,880 shares) Common shares retired (188,888 shares) Common stock cash dividends 216,808 708,80e 6,825,452 $ 5,568,552 Balance at end of year At December 31,...
How is the answer not 283? Div
= Net Income - Retained earnings?
Windswept, Inc. 2017 Income Statement ($ in millions) 9200 7390 305 Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income 1505 87 1418 425 993 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Accoun tS payabl Cash S 240 $ 255 $1380 $1315 Long Accoun 1020 730 1130 1400 ts rec....
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earlier Required Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) VOLUNTEERS INC. RAIDERS INC (S in millions) Net (S in millions) Retained Net Retained Year Income (Loss)...
Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earlier. Required: Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Year 2009 VOLUNTEERS INC. RAIDERS INC. ($ in millions) ($ in millions) Net Retained Net Retained 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 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
19 RENN-DEVER CORPORATION Statements of Retained Earnings for the Years Ended December 31 2018 2017 2016 Balance at beginning of year $7,195,692 $5,663,452 $5,764,552 Net income (loss) 3,322,789 2,380,989 (101,100) Deductions: Stock dividend (39,800 shares) 256,080 Common shares retired, September 30 (120,000 shares) 226,660 Common stock cash dividends 903,950 712,080 B Balance at end of year $9,268,442 $7,105,692 55,663,452 points Skipped At December 31, 2015, paid-in capital consisted of the following: Common stock, 2,110,000 shares at $1 par, Paid in...
TRANSACTION LIST
Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2018 annual report as follows. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2817 S 6,825,452 5,568,552 5,724,552 2818 2816 Balance at beginning of year Net income (loss) Deductions: (156,eee) 3,288,788 2,188,98e 224,8e0 849,958 $ 9,848,282 Stock dividend (32,880 shares) Common shares retired (188,888 shares) Common stock cash dividends 216,808 708,80e 6,825,452 $ 5,568,552 Balance at end of year At December 31,...
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