Homework Answers
The ending balance of retained earning is calculated as follows:
Ending retained earnings = Beginning balance + Net Income - Dividend declared
= $238,000 + $112,750 - $51,250
= $299,500
Therefore, 3rd option is correct
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Alvarez Company is preparing the company's statement of cash flows for the fiscal year just ended....
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 133,000 Cash dividends declared for the year53,000Proceeds from the sale of equipment88,000Gain on the sale of equipment8,400Cash dividends payable at the beginning of the year25,000Cash dividends payable at the end of the year28,400Net income for the year99,000What is the ending balance for retained earnings? Multiple Choice $262,000 $179,000 $209,000 $290,000
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The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal...
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Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018...
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Following are a statement of cash flows (indirect method) for Harris, Inc., for the year ended...
Following are a statement of cash flows (indirect method) for
Harris, Inc., for the year ended December 31, 2017, and the firm’s
balance sheet at December 31, 2016:
HARRIS, INC.
Statement of Cash Flows
For the year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income
$
13,600
Add (deduct) items not affecting cash:
Depreciation expense
32,000
Increase in accounts receivable
(7,000
)
Decrease in merchandise inventory
32,800
Increase in accounts payable
4,900
Net cash provided by operating...
In preparing a company's statement of cash flows for the most recent year, the following information...
In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment $14,000 Purchase of equipment $145,000 Proceeds from the sale of equipment $126,000 Repayment of outstanding bonds $87,000 Purchase of treasury stock $62,000 Issuance of common stock $96,000 Purchase of land $115,000 Increase in accounts receivable during the year $43,000 Decrease in accounts payable during the year $75,000 Payment of cash dividends $35,000 Net cash flows from...
Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year Net income for the year $258,000 56,250 96,000 5,250 24,750 32,500 123,750 The amount...
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Following are a statement of cash flows (indirect method) for
Harris, Inc., for the year ended December 31, 2017, and the firm’s
balance sheet at December 31, 2016:
HARRIS, INC.
Statement of Cash Flows
For the year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income
$
13,600
Add (deduct) items not affecting cash:
Depreciation expense
32,000
Increase in accounts receivable
(7,000
)
Decrease in merchandise inventory
32,800
Increase in accounts payable
4,900
Net cash provided by operating...
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