Homework Answers
Answer:
| Stockholders' equity | ||||||||
| Assets | = | Liabilities | + | PIC | + | RE | ||
| Beginning | $11,100 | = | $5,200 | + | $0 | + | $5,900 | |
| Changes: | ($4,400) | = | ($1,400) | + | + | ($6,400) | - Dividends | |
| = | + | + | $3,400 | + Net income | ||||
| Ending: | $6,700 | = | $3,800 | + | $0 | + | $2,900 | |
Thus, Dividends is $6,400
Explanations:
i. Beginning, Retained earnings (RE) = Beginning, Assets - Beginning liabilities
= $11,100 - $5,200
=$5,900
ii.Ending, Retained earnings (RE) = Ending, Assets - Ending, liabilities
= $6,700 - $3,800
=$2,900
iii. Dividends = Beginning, Retained earnings + Net income - Ending, Retained earnings,
= $5,900 + $3,400 - $2,900
=$6,400
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