Homework Answers
Add Answer to:
Assets 12/31/2018 12/31/2019 $295,000 $318,000 $100,000 $110,000 Liabilities Capital Stock Retained Earnings $82,000 The above data...
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...
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 $126,180 27,480 9,660 2,700 29,640 13,560 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 Stockholders' Equity...
Retained earnings, December 31, 2019 $ 525,750 Decrease in total liabilities during 2019 114,500 Gain on...
Retained earnings, December 31, 2019 $ 525,750 Decrease in total liabilities during 2019 114,500 Gain on the sale of buildings during 2019 40,250 Dividends declared and paid in 2019 11,250 Proceeds from sale of common stock in 2019 123,500 Net income for the year ended December 31, 2019 56,500 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.)
Retained earnings, December 31, 2019 $ 357,510 Decrease in total liabilities during 2019 77,860 Gain on...
Retained earnings, December 31, 2019
$
357,510
Decrease in total liabilities during 2019
77,860
Gain on the sale of buildings during 2019
27,370
Dividends declared and paid in 2019
7,650
Proceeds from sale of common stock in 2019
83,980
Net income for the year ended December 31, 2019
38,420
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 Stockholders'...
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on...
Return to qu 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 $336,480 73,280 25,760 7.200 79,040 36,160 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.) *...
The Balance Sheets for Jackson, Inc. for the years ending December 31, 2019 and 2018 are shown below: Dec. 31, 2019 143...
The Balance Sheets for Jackson, Inc. for the years ending December 31, 2019 and 2018 are shown below: Dec. 31, 2019 143,290 47,660 (2,300) 4,200 Cash Accounts Receivable Allowance for Doubtful Amounts Prepaid Insurance Prepaid Rent Inventories Land Buildings Equipment Delivery equipment Less: Accumulated Depreciation Buildings Equipment Delivery Equipment Patents Dec. 31, 2018 88,300 40,500 (2,200) 3,200 5,600 58,200 80,000 175,000 74,000 29,000 70,960 100,000 175,000 74,000 48,000 (13,000) (48,500) (9,500) 7,500 597,310 (7,500) (35,500) (26,500) 17,700 499,800 Dec. 31,...
Input correct answer Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on...
Input correct answer
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 ear ended December 31, 2019 $504,720 109,920 38,640 10,800 118,560 54,240 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a...
On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurre...
On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during 2018: March 1: Reacquired 3,900 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 12,900 new shares for cash. December 31: Reported a net income of $207,500. The following transactions occurred during 2019: January 10: Declared and issued a 20% stock dividend. December 31: Reported a net income of $277,800. Required: Calculate Shamu's basic earnings...
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued) $ 2,800,000 Common stock, $ 1 par (1,000,000 sha
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued)$ 2,800,000 Common stock, $ 1 par (1,000,000 shares authorized, 307,000 shares issued) 307,000 Additional paid-in capital-common 858,000 Retained earnings 1,379,000 Total $ 5,344,000 During 2020, Pina took part in the following transactions concerning stockholders’ equity. .1.Paid the annual 2019 dividend on preferred stock and a $ 0.50 per share dividend on common stock. These dividends had been declared on December...
REQUIRED: (1) Prepare the Journal Entries for the above transactions. (2) Prepare the Statement of Retained Earnings (In Good Form) as of 12/31/17. PROBLEM II: 45 POINTS (SHOW ALL WORK) Lemke C...
REQUIRED:
(1) Prepare the
Journal Entries for the above transactions.
(2) Prepare the
Statement of Retained Earnings (In Good Form) as of
12/31/17.
PROBLEM II: 45 POINTS (SHOW ALL WORK) Lemke Corporation produces and sells piano. The Stockholders' Equity accounts on January 1, 2017 are as follows: Common Stock, $10 par (100,000 shares authorized, 40,000 shares issued) PIC in Excess par- Common Stock Retained Earnings Treasury Stock (10,000 shares at cost) $400,000 200,000 900,000 200,000 The following transactions occurred during...
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...
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 $126,180 27,480 9,660 2,700 29,640 13,560 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 Stockholders' Equity...
Retained earnings, December 31, 2019
$
357,510
Decrease in total liabilities during 2019
77,860
Gain on the sale of buildings during 2019
27,370
Dividends declared and paid in 2019
7,650
Proceeds from sale of common stock in 2019
83,980
Net income for the year ended December 31, 2019
38,420
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 Stockholders'...
Return to qu 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 $336,480 73,280 25,760 7.200 79,040 36,160 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.) *...
The Balance Sheets for Jackson, Inc. for the years ending December 31, 2019 and 2018 are shown below: Dec. 31, 2019 143,290 47,660 (2,300) 4,200 Cash Accounts Receivable Allowance for Doubtful Amounts Prepaid Insurance Prepaid Rent Inventories Land Buildings Equipment Delivery equipment Less: Accumulated Depreciation Buildings Equipment Delivery Equipment Patents Dec. 31, 2018 88,300 40,500 (2,200) 3,200 5,600 58,200 80,000 175,000 74,000 29,000 70,960 100,000 175,000 74,000 48,000 (13,000) (48,500) (9,500) 7,500 597,310 (7,500) (35,500) (26,500) 17,700 499,800 Dec. 31,...
Input correct answer
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 ear ended December 31, 2019 $504,720 109,920 38,640 10,800 118,560 54,240 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a...
REQUIRED:
(1) Prepare the
Journal Entries for the above transactions.
(2) Prepare the
Statement of Retained Earnings (In Good Form) as of
12/31/17.
PROBLEM II: 45 POINTS (SHOW ALL WORK) Lemke Corporation produces and sells piano. The Stockholders' Equity accounts on January 1, 2017 are as follows: Common Stock, $10 par (100,000 shares authorized, 40,000 shares issued) PIC in Excess par- Common Stock Retained Earnings Treasury Stock (10,000 shares at cost) $400,000 200,000 900,000 200,000 The following transactions occurred during...
Most questions answered within 3 hours.
-
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 49 minutes ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 2 hours ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 2 hours ago -
The highly pathogenic bacterium Clostridium
perfringens causes gangrene, a disease that results in the
destruction of...
asked 4 hours ago -
In the context of situation analysis, which of the following is
a category for analysis in...
asked 4 hours ago -
In a study of the gas phase decomposition of sulfuryl chloride
at 600 K SO2Cl2(g)SO2(g) +...
asked 4 hours ago -
75 g of 2-propanol (C3H8O) and 25 g of pentane are mixed in a
200 mL...
asked 4 hours ago -
The 2800-turn coil in a dc motor has an area per turn of 1.1 ×
10-2...
asked 4 hours ago -
Draw a combinational logic circuit diagram with a symbol inside
the box for two I/P of...
asked 5 hours ago -
The cliché we use quite a lot in finance is: there is a need to
maximize...
asked 5 hours ago -
In class we discussed the addition of HCl to alpha pinene. Would
you expect one or...
asked 5 hours ago -
I'm trying to explain to my daughter to help her please help
me
I tagged the...
asked 5 hours ago