From the data given below, calculate the Retained Earnings balance of December 31, 2019. Retained earnings,...
From the data given below, calculate the Retained Earnings balance of December 31, 2019.
| Retained earnings, December 31, 2020 | $ | 345,000 |
| Increase in total liabilities during 2020 | 99,000 | |
| Gain on the sale of buildings during 2020 | 42,000 | |
| Dividends declared and paid in 2020 | 27,000 | |
| Proceeds from sale of common stock in 2020 | 96,000 | |
| Net income for the year ended December 31, 2020 | 123,000 | |
Homework Answers
| Computation of Retained Earnings as on December 31, 2019 | |||||
| Retained earnings, December 31, 2020 | $ 3,45,000.00 | ||||
| Add: | Dividends declared and paid in 2020 | $ 27,000.00 | |||
| Less: | Net income for the year ended December 31, 2020 | $ 1,23,000.00 | |||
| Retained earnings, December 31, 2019 | $2,49,000.00 | ||||
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From the data given below, calculate the Retained Earnings
balance of December 31, 2019.
Retained earnings,...
From the data given below, calculate the Retained Earnings balance of December 31, 2019. Retained earnings,...
From the data given below, calculate the Retained Earnings balance of December 31, 2019. Retained earnings, December 31, 2020 $ 345,000 Increase in total liabilities during 2020 99,000 Gain on the sale of buildings during 2020 42,000 Dividends declared and paid in 2020 27,000 Proceeds from sale of common stock in 2020 96,000 Net income for the year ended December 31, 2020 123,000
From the data given below, calculate the Retained Earnings balance of December 31, 2019 From the...
From the data given below, calculate the Retained Earnings
balance of December 31, 2019
From the data given below, calculate the Retained Earnings balance of December 31, 2019. Retained carnings, December 31, 2020 Increase in total liabilities during 2020 Gain on the sale of buildings during 2020 Dividends declared and paid in 2020 Proceeds from sale of common stock in 2020 Net income for the year ended December 31, 2020 $345, 000 99, 000 42, 000 27, 000 96, 000...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $252,360 54,960 19,320 5,400 59, 280 27, 120 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of...
Retained earnings, December 31, 2019 $ 525,750 Decrease in total liabilities during 2019 114,500 Gain on...
Retained earnings, December 31, 2019 $ 525,750 Decrease in total liabilities during 2019 114,500 Gain on the sale of buildings during 2019 40,250 Dividends declared and paid in 2019 11,250 Proceeds from sale of common stock in 2019 123,500 Net income for the year ended December 31, 2019 56,500 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $126,180 27,480 9,660 2,700 29,640 13,560 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of Stockholders' Equity...
Retained earnings, December 31, 2019 $ 357,510 Decrease in total liabilities during 2019 77,860 Gain on...
Retained earnings, December 31, 2019
$
357,510
Decrease in total liabilities during 2019
77,860
Gain on the sale of buildings during 2019
27,370
Dividends declared and paid in 2019
7,650
Proceeds from sale of common stock in 2019
83,980
Net income for the year ended December 31, 2019
38,420
Required:
From the above data, calculate the retained earnings balance as of
December 31, 2018. (Enter decreases with a minus sign to
indicate a negative financial statement effect.)
Statement of Stockholders'...
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on...
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $336,480 73,280 25,760 7.200 79,040 36,160 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) *...
Input correct answer Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on...
Input correct answer
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 ear ended December 31, 2019 $504,720 109,920 38,640 10,800 118,560 54,240 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a...
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...
Refer to the data below. Retained earnings, December 31, 2019 $ 346,000 Cost of buildings purchased...
Refer to the data below. Retained earnings, December 31, 2019 $ 346,000 Cost of buildings purchased during 2020 48,000 Net income for the year ended December 31, 2020 56,600 Dividends declared and paid in 2020 32,600 Increase in cash balance from January 1, 2020, to December 31, 2020 23,200 Increase in long-term debt in 2020 45,600 Required: From the above data, calculate the Retained Earnings balance as of December 31, 2020:
From the data given below, calculate the Retained Earnings
balance of December 31, 2019
From the data given below, calculate the Retained Earnings balance of December 31, 2019. Retained carnings, December 31, 2020 Increase in total liabilities during 2020 Gain on the sale of buildings during 2020 Dividends declared and paid in 2020 Proceeds from sale of common stock in 2020 Net income for the year ended December 31, 2020 $345, 000 99, 000 42, 000 27, 000 96, 000...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $252,360 54,960 19,320 5,400 59, 280 27, 120 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of...
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $126,180 27,480 9,660 2,700 29,640 13,560 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of Stockholders' Equity...
Retained earnings, December 31, 2019
$
357,510
Decrease in total liabilities during 2019
77,860
Gain on the sale of buildings during 2019
27,370
Dividends declared and paid in 2019
7,650
Proceeds from sale of common stock in 2019
83,980
Net income for the year ended December 31, 2019
38,420
Required:
From the above data, calculate the retained earnings balance as of
December 31, 2018. (Enter decreases with a minus sign to
indicate a negative financial statement effect.)
Statement of Stockholders'...
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $336,480 73,280 25,760 7.200 79,040 36,160 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) *...
Input correct answer
Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 ear ended December 31, 2019 $504,720 109,920 38,640 10,800 118,560 54,240 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a...
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...
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