FrozzbozCo International has the following Income statement for 2012. What is the firms Retained Earnings if...
FrozzbozCo International has the following Income statement for 2012. What is the firms Retained Earnings if they pay out 0.54 of their Net Income as Dividends? (Round to nearest penny and do not enter commas, e.g. 1234.56)
| Revenue | 227181 |
|---|---|
| Costs | 96148 |
| Depreciation | 15978 |
| Ebit | |
| Interest Expense | 11483 |
| Taxable Income | |
| Tax Expense @ 22% | |
| Net Income |
Homework Answers
| Revenue | 227181 |
| Costs | 96148 |
| Depreciation | 15978 |
| EBIT | $115055 |
| Interest expense | 11483 |
| Taxable income | 103572 |
| Taxes(103572*22%) | 22785.84 |
| Net income | 80786.16 |
Retained earnings=Net income-Dividends
=80786.16*(1-0.54)=$37161.63(Approx).
Add Answer to:
FrozzbozCo International has the following Income statement for
2012. What is the firms Retained Earnings if...
Steinhardt Wig Company has the following Income statement and balance sheet for 2005. The firm paid...
Steinhardt Wig Company has the following Income statement and balance sheet for 2005. The firm paid out 65% of it's Net Income as Dividends. What is the firms Cash Flow to Equity Holders? (Round to nearest penny and do not enter commas, e.g. 1234.56) 2005 Income Statement Revenue 176655 Costs 23271 Depreciation 16885 Ebit Interest Expense 7562 Taxable Income Tax Expense @ 22% Net Income 2005 Balance Sheet Year 2004 2005 2004 2005 Current Assets 17455 17375 Current Liabilities 14757...
VanRee Recycling Inc. has the following income statement for this year: Income Statement 750,000 (218,000) (190,000)...
VanRee Recycling Inc. has the following income statement for this year: Income Statement 750,000 (218,000) (190,000) 342,000 (150,000) 192,000 (57,600) 134,400 Sales Costs Depreciation EBIT Interest expense EBT Taxes Net Income Dividends 100,800 Additions to Retained Earnings 33,600 VanRee expects sales to rise by 10 percent next year. Costs are expected to increase spontaneously with sales Depreciation and interest expense will remain constant. The tax rate will also remain constant. VanRee will continue to pay out 75 percent of their...
Prepare Debit Company's income statement and statement of retained earnings for the year ended December 31,...
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
Retained Earnings Statement, Prior Period Adjustment
P4-6 (Retained Earnings Statement, Prior Period Adjustment) Below is the Retained Earnings account for the year 2012 for Acadian Corp.Retained earnings, January 1, 2012 $257,600Add:Gain on sale of investments (net of tax) $41,200Net income 84,500Refund on litigation with government, related to the year 2009 (net of tax) 21,600Recognition of income earned in 2011, but omitted from income statementin that year (net of tax) 25,400 172,700430,300Deduct:Loss on discontinued operations (net of tax) 35,000Write-off of goodwill (net of tax) 60,000Cumulative effect on...
A) prepare an income statement and a retained earnings statement for the year B) prepare a...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
Income Statement Sales 750,000 (218,000) (180,000) 352,000 (150,000) 202,000 (50,500) 151,500 Costs Depreciation EBIT Interest expense...
Income Statement Sales 750,000 (218,000) (180,000) 352,000 (150,000) 202,000 (50,500) 151,500 Costs Depreciation EBIT Interest expense EBT Taxes Net Income Dividends 113,625 Additions to Retained Earnings 37,875 VanRee expects sales to rise by 10 percent next year. Costs are expected to increase spontaneously with sales. Depreciation and interest expense will remain constant. The tax rate will also remain constant. VanRee will continue to pay out 75 percent of their net income as dividends. Prepare next year's income statement What will...
Calculating Retained earnings from pro forma Income consider the following income statement for the Heir Jorden...
Calculating Retained earnings from pro forma Income consider the following income statement for the Heir Jorden corporation Sales $49,000 Costs 40,300 Taxable incomes $8,700 Taxes 22% 1914 Net income $6,786 Dividends $2,400 Addition to retained earnings 4,386 A 20 % growth rate in sales is projected prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant what is the projected addition to retained earnings?
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for 2019. Accounts payable $16,800 Accounts receivable 70,300 Accumulated depreciation (building) 106,200 Accumulated depreciation (furniture) 27,600 Bonds payable (due in 7 years) 192,000 Building 300,000 Cash 41,450 Common stock 115,620 Cost of goods sold 511,350 Depreciation expense (building) 11,050 Depreciation expense (furniture) 12,000 Furniture 130,000 Income taxes expense 16,650 Income taxes payable 11,400 Insurance expense 36,610 Interest expense 15,500 Inventory 59,850 Other...
Colgate-Palmolive Company reports the following balances in its retained earnings. ($ 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%
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
VanRee Recycling Inc. has the following income statement for this year: Income Statement 750,000 (218,000) (190,000) 342,000 (150,000) 192,000 (57,600) 134,400 Sales Costs Depreciation EBIT Interest expense EBT Taxes Net Income Dividends 100,800 Additions to Retained Earnings 33,600 VanRee expects sales to rise by 10 percent next year. Costs are expected to increase spontaneously with sales Depreciation and interest expense will remain constant. The tax rate will also remain constant. VanRee will continue to pay out 75 percent of their...
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
Income Statement Sales 750,000 (218,000) (180,000) 352,000 (150,000) 202,000 (50,500) 151,500 Costs Depreciation EBIT Interest expense EBT Taxes Net Income Dividends 113,625 Additions to Retained Earnings 37,875 VanRee expects sales to rise by 10 percent next year. Costs are expected to increase spontaneously with sales. Depreciation and interest expense will remain constant. The tax rate will also remain constant. VanRee will continue to pay out 75 percent of their net income as dividends. Prepare next year's income statement What will...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
Most questions answered within 3 hours.
-
Please explain steps:
An 80 kg swimmer steps off a platform 10 m above the water...
asked 32 minutes ago -
A lottery exists where balls numbered 1 to 17 are placed in an
urn. To win,...
asked 35 minutes ago -
26) Briefly describe, using words or simple diagrams, the
chemiosmotic theory for coupling oxidation to phosphorylation...
asked 2 hours ago -
Suppose that XX is a random variable with mean 16 and standard
deviation 5 . Also...
asked 3 hours ago -
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 6 hours ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 6 hours ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 7 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 8 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 9 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 9 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 10 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 10 hours ago