Question

At January 1, 2018, S Industries reported retained earnings of $152000. During 2018, S ind. had...

At January 1, 2018, S Industries reported retained earnings of $152000. During 2018, S ind. had a net loss of $29200 and paid dividends of $15300. At December 31, 2018, the amount of retained earnings is

$107500.

$167300.

$122800.

$136700.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:

Correct answer is Option-A. $ 107,500 Explanation: Particulars Retained earnings as on January 1, 2018 less: Net loss less: D

Add a comment
Know the answer?
Add Answer to:
At January 1, 2018, S Industries reported retained earnings of $152000. During 2018, S ind. had...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 2. On January 1, 2018, Miller Corporation had retained earnings of $18,000,000. During 2018, Miller reported...

    2. On January 1, 2018, Miller Corporation had retained earnings of $18,000,000. During 2018, Miller reported revenues of $4,000,000 and expenses of 1,500,000. Miller declared dividends of $500,000, and issued common stock for $1,000,000. The APIC totaled $2,000,000. What were Miller's retained earnings on December 31, 2018?

  • At the beginning of 2018, Coronado Industries had retained earnings of $319000. During the year Coronado reported net in...

    At the beginning of 2018, Coronado Industries had retained earnings of $319000. During the year Coronado reported net income of $75800, sold treasury stock at a “gain” of $26800, declared a cash dividend of $45100, and declared and issued a small stock dividend of 1410 shares ($10 par value) when the fair value of the stock was $31 per share. The amount of retained earnings available for dividends at the end of 2018 was: $37840. $327140. $305990. $352520.

  • Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a...

    Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December 31, 2018 Retained...

  • Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained...

    Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December...

  • Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained...

    Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained Earnings had a balance of $274,700. During the year, Judy invested an additional $60,400 in exchange for common stock and $35,700 in dividends were paid. For the year ended December 31, 2018, Derby Advertising Services reported a net income of $44,600. Prepare a retained earnings statement for the year ended December 31, 2018. Derby Advertising Services Retained Earnings Statement For the Year Ended December...

  • Wyler​, Inc. had beginning retained earnings of $ 110,000 on January ​1, 2018. During the​ year,...

    Wyler​, Inc. had beginning retained earnings of $ 110,000 on January ​1, 2018. During the​ year, Wyler declared and paid $ 95,000 of cash dividends and earned $ 85,000 of net income. Prepare a statement of retained earnings for Wyler​, Inc. for the year ending December ​31, 2018. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal.

  • Petro Inc. had a beginning balance in retained earnings on January 1, 2018 of $44,300. The...

    Petro Inc. had a beginning balance in retained earnings on January 1, 2018 of $44,300. The Company's Cash balance orn January 1, 2018 was $41,000 and had decreased to a Cash balance on Dec ember 31, 2018 of $14,500. Petro's net income for 2018 was $7.300 and the Company paid out cash dividends of $5,950 during 2018. What should be Petro Iinc's Retained Earnings ending balance on December 31, 2018? Mutiple Choice 42.950 $57,550 $13.250 C Prev 22 o 34...

  • A company had retained earnings on 1/1/2018 of $8.5m. During 2018, it paid a dividend of...

    A company had retained earnings on 1/1/2018 of $8.5m. During 2018, it paid a dividend of $1.2m that had been declared in 2017 and it also declared a dividend in 2018 for $1.6m, payable in 2019. No other dividends were paid or declared. Net income was $2.3m in 2017 and $3.3m in 2018. In 2019, net income is projected to be $4.2m. Please calculate: a.   Retained Earnings 1/1/2017: b.   Retained Earnings 12/31/2018:

  • 10 Cooper Industries, Inc., began 2015 with retained earnings of $24.37 milion. During the year it...

    10 Cooper Industries, Inc., began 2015 with retained earnings of $24.37 milion. During the year it paid four quarterfy dividends of $0.32 per share to 3.17 million common stockholders. Preferred stockholders, holding 521,000 shares, were paid two semiannual dividends of $0.74 per share. The firm had a net profit after taxes of $5.17 million. Prepare the statement of retained earnings for the year ended December 31, 2015 Complete the statement of retained eamings below (Round to the nearest dollar) Cooper...

  • Bramble Corporation has retained earnings of $697,600 at January 1, 2020. Net income during 2020 was...

    Bramble Corporation has retained earnings of $697,600 at January 1, 2020. Net income during 2020 was $1,692,900, and cash dividends declared and paid during 2020 totaled $81,700. Prepare a retained earnings statement for the year ended December 31 2020. Assume an error was discovered: land costing $88,590 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.) BRAMBLE CORPORATION Retained Earnings Statement For the Year Ended December 31, 2020 Retained Earnings,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT