Net income = ending retained earnings + dividend paid - beginning retained earnings
= $75000+$15000-$55000
= $35,000
Question 9 The beginning balance of Retained Earnings is $55,000 while the ending balance is $75,000....
The beginning balance of Retained Earnings is $130,000 while the ending balance is $155,000. If $25,000 in dividends were paid out during the year, how much was net income?
The Brandon Company had an ending balance in retained earnings of $100,000. During the year it paid dividends of $25,000 and had net income of $75,000. It also had other comprehensive income (foreign currency gain) of $10,000. What was beginning retained earnings? $50,000 O $150,000 $40,000 $ 140,000
0 $17,100 Question 9 1 pts Chun Company reported a beginning balance in Retained Earnings of $12,600. They paid no dividends during 20X5. At the end of the year, there were debit entries to Retained Earnings totaling $305,200 and credit entries totaling $297,400. Net income or net loss for 20X5 was: $20,400 net income $20,400 net loss $7,800 net loss $4,800 net income $7,800 net income O Rent 800 expense Dividends 500 For this question only, assume that net income...
if beginning retained earnings were $28,000, dividends were $25,000, and ending retained earnings was $12,000, how much was net income?
Hill Insurance Agency started the year with a beginning Retained Earnings balance of $24,500. During the year, Hill Insurance Agency earned $33,000 of Service Revenue and incurred $24,000 of various expenses. Dividends of $16,000 from the business were paid to stockholders. After the closing entries are recorded and posted, what will be the balance of Retained Earnings? Post the beginning balance and closing entry amounts to the Retained Earnings account. Use a "Bal." posting reference to show the beginning and...
A company had a beginning balance in retained earnings of $400,000. It had net income of $50,000 and declared and paid cash dividends of $55,000 in the current period. The ending balance in retained earnings equals: Multiple Choice O $505,000 о $455,000. о $350,000.
42. The ending Retained Earnings balance of Lambert Inc. increased by $2.5 million from the beginning of the year. The company's net income earned during the year is $7.5 million. What is the amount of dividends Lambert Inc. declared and paid? $2.5 million. $7.5 million. $5.0 million. $10.0 million.
Webster Company has a beginning balance in Retained Earnings of $17,000. They earned a net income of $3,000 during the year and paid out $6,000 in dividends. What is the ending balance in Webster Companies Retained Earnings account at the end of the year? (Answer in whole $s without the $ sign or comma, i.e. 12345.)
A company had a beginning balance in retained earnings of $43,600. It had net income of $6,600 and paid out cash dividends of $5,775 in the current period. The ending balance in retained earnings equals:
The accountant for Huckleberry 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 $163,000Cash dividends declared for the year 50.800Net income for the year 98,000 What is the ending balance...