Homework Answers
Ending retained earnings=Beginning retained earnings+Net income-Dividends paid
=137,000+87000-27000
which is equal to
=$197000=Retained earnings at December 31,2016
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Quartz Instruments had Retained Earnings of $137,000 at December 31, 2015. Net income for 2016 was...
Quartz Instruments had Retained Earnings of $133,000 at December 31, 2018. Net income for 2019 was...
Quartz Instruments had Retained Earnings of $133,000 at December 31, 2018. Net income for 2019 was $83, 000, and dividends for 2019 were $23,000. What amount of Retained Earnings should be reported at December 31, 2019?
Quartz Instruments had retained earnings of 147.000 at December 31, 2019 Not Income for 2020 totalled...
Quartz Instruments had retained earnings of 147.000 at December 31, 2019 Not Income for 2020 totalled 06.000, and vidends for 2020 were $35.000 How much and caring short por December 1, 2017 OA $182.000 OB. $144.000 C. 5190,000 OD. 5233,000 Quartz Instruments had retained earnings of $147,000 at December 31, 2019. Net income for 2020 totale 56.000, and dividends to 2020 were $35.000 How much retained earnings should report at December 11, 21207 O A 5182,000 OB $144,000 . C....
Retained earnings, December 31, 2016 Decrease in total liabilities during 2016 Gain on the sale of...
Retained earnings, December 31, 2016 Decrease in total liabilities during 2016 Gain on the sale of buildings during 2016 Dividends declared and paid in 2016 Proceeds from sale of common stock in 2016 Net income for the year ended December 31, 2016 $462,660 100,760 35,420 9,900 108,680 49,720 Required From the above data, calculate the retained earnings balance as of December 31, 2015. (Deductible amounts should be indicated by a minus sign.) Statement of Stockholders' Equity (Partial) For Year Ended...
A company's retained earnings on December 31, 2015 to 2019 is as follows: 2015 2016 2017...
A company's retained earnings on December 31, 2015 to 2019 is as follows: 2015 2016 2017 2018 2019 Retained Earnings $62,000 $58,000 $65,000 $69,000 $75,000 On the pro-forma income statement for 2020, the net income is projected to be $15,000. On the pro-forma income statement for 2021, the net income is projected to be $30,000. The company expects to pay dividends of $5,000 in 2021. What is the projected retained earnings for December 31, 2021? A. $90,000 B. $100,000 C....
The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $209.000....
The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $209.000. During 2016, the company had revenues of $409,000 and expenses of $354.500, and the company declared and paid dividends of $11,900. Retained earnings on the bolance sheet as of December 31, 2016 will be: O $263.500. O $42.600 O $306100. O $251600 A company had calculated net income to be $77700 based on the unadjusted trial balance. The following adjusting entries were then made...
This Question: 1 pt 8 of 15 (7 complete) TMS Ca pis pus Salem Instruments had retained earnings of $345,000 at Dece...
This Question: 1 pt 8 of 15 (7 complete) TMS Ca pis pus Salem Instruments had retained earnings of $345,000 at December 31, 2015. Net income for 2016 totaled $195,000, and dividends for 2016 were $65.,000. How much retained esmings should Salem report at December 31, 2016? A. $410,000 OB. $345.000 OC 5475.000 Du OD. $540.000
Retained earnings, December 31, 2015 $ 307,600 Cost of equipment purchased during 2016 32,000 Net loss...
Retained earnings, December 31, 2015 $ 307,600 Cost of equipment purchased during 2016 32,000 Net loss for the year ended December 31, 2016 4,600 Dividends declared and paid in 2016 13,500 Decrease in cash balance from January 1, 2016, to December 31, 2016 11,600 Decrease in long-term debt in 2016 16,800 Required: From the above data, calculate the retained earnings balance as of December 31, 2016. (Deductible amounts should be indicated by a minus sign.) Required: From the above data,...
ACCOUNTING HELP ASAP! Retained earnings, December 31, 2015 Cost of equipment purchased during 2016 Net loss for the...
ACCOUNTING HELP ASAP!
Retained earnings, December 31, 2015 Cost of equipment purchased during 2016 Net loss for the year ended December 31, 2016 Dividends declared and paid in 2016 Decrease in cash balance from January 1, 2016, to December 31, 2016 Decrease in long-term debt in 2016 $ 305,700 39,000 4.500 14200 11.100 16,900 Required: From the above data, calculate the retained earnings balance as of December 31, 2016. (Deductible amounts should be indicated by a minus sign Statement of...
Newland Company reported retained earnings at December 31, 2016, of $310,000. Newland had 200,000 shares of...
Newland Company reported retained earnings at December 31, 2016, of $310,000. Newland had 200,000 shares of common stock outstanding at the beginning of 2017. The following transactions occurred during 2017. 1. An error was discovered. In 2015, depreciation expense was recorded at $70,000, but the correct amount was $50,000. 2. A cash dividend of $0.5 per share was declared and paid. 3. A 5% stock dividend was declared and distributed when the market price per share was $15 per share....
Martinez Corp. began operations in 2014. During the years 2014-2016, it reported net income and declared...
Martinez Corp. began operations in 2014. During the years
2014-2016, it reported net income and declared dividends as
follows.
Net income
Dividends declared
2014
$27,000
$ –0–
2015
118,000
–0–
2016
234,000
48,000
During 2017, Martinez Corp.:
●
discovered that it had
failed, in 2015, to record $44,000 in depreciation on equipment in
one of its warehouses.
●
changed, on January 1 ,2017,
from the average cost to the FIFO method of accounting for its
inventory. If Martinez Corp. had...
Quartz Instruments had retained earnings of 147.000 at December 31, 2019 Not Income for 2020 totalled 06.000, and vidends for 2020 were $35.000 How much and caring short por December 1, 2017 OA $182.000 OB. $144.000 C. 5190,000 OD. 5233,000 Quartz Instruments had retained earnings of $147,000 at December 31, 2019. Net income for 2020 totale 56.000, and dividends to 2020 were $35.000 How much retained earnings should report at December 11, 21207 O A 5182,000 OB $144,000 . C....
Retained earnings, December 31, 2016 Decrease in total liabilities during 2016 Gain on the sale of buildings during 2016 Dividends declared and paid in 2016 Proceeds from sale of common stock in 2016 Net income for the year ended December 31, 2016 $462,660 100,760 35,420 9,900 108,680 49,720 Required From the above data, calculate the retained earnings balance as of December 31, 2015. (Deductible amounts should be indicated by a minus sign.) Statement of Stockholders' Equity (Partial) For Year Ended...
The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $209.000. During 2016, the company had revenues of $409,000 and expenses of $354.500, and the company declared and paid dividends of $11,900. Retained earnings on the bolance sheet as of December 31, 2016 will be: O $263.500. O $42.600 O $306100. O $251600 A company had calculated net income to be $77700 based on the unadjusted trial balance. The following adjusting entries were then made...
This Question: 1 pt 8 of 15 (7 complete) TMS Ca pis pus Salem Instruments had retained earnings of $345,000 at December 31, 2015. Net income for 2016 totaled $195,000, and dividends for 2016 were $65.,000. How much retained esmings should Salem report at December 31, 2016? A. $410,000 OB. $345.000 OC 5475.000 Du OD. $540.000
ACCOUNTING HELP ASAP!
Retained earnings, December 31, 2015 Cost of equipment purchased during 2016 Net loss for the year ended December 31, 2016 Dividends declared and paid in 2016 Decrease in cash balance from January 1, 2016, to December 31, 2016 Decrease in long-term debt in 2016 $ 305,700 39,000 4.500 14200 11.100 16,900 Required: From the above data, calculate the retained earnings balance as of December 31, 2016. (Deductible amounts should be indicated by a minus sign Statement of...
Martinez Corp. began operations in 2014. During the years
2014-2016, it reported net income and declared dividends as
follows.
Net income
Dividends declared
2014
$27,000
$ –0–
2015
118,000
–0–
2016
234,000
48,000
During 2017, Martinez Corp.:
●
discovered that it had
failed, in 2015, to record $44,000 in depreciation on equipment in
one of its warehouses.
●
changed, on January 1 ,2017,
from the average cost to the FIFO method of accounting for its
inventory. If Martinez Corp. had...
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