Homework Answers
Calculation of Retained Earnings:-
Beginning Balance + Net Income - Dividend = Ending Balance
$717,500 + $3,970,000 - Dividend = $2,595,000
$4,687,500 - Dividend = $2,595,000
Dividend = $4,687,500 - $2,595,000
= $2,092,500
If company paid $192,000 to preferred shareholders than dividend paid to common shareholders
= $2,092,500 - $192,000
= $1,900,500
Dividend each shareholders received if company has 450,000 shares
$1,900,500/450,000
= $4.22/Share
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Show the following details for Spencer Corporation in the t-account for Retained Earnings: At the beginning...
Show the following details for Spencer Corporation in the
t-account for Retained Earnings:
At the beginning of 2018, Spencer had a $50,000 debit balance
in retained earnings
During 2018 the company earned $300,000 of net income and
closed the amount into retained earnings.
The company wants to pay a $2.00 per share dividend on each of
its 25,000 shares of common stock. How will the dividends affect
retained earnings? Show the effects in the
t-account.
Before the company can pay...
2. Show the following details for Spencer Corporation in the t-account for Retained Earnings: At the...
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please? Also, what is retained earnings balance and show
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Show the following details for Spencer Corporation in the
t-account for Retained Earnings:
At the beginning of 2018, Spencer had a $50,000 debit balance
in retained earnings
During 2018 the company earned $300,000 of net income and
closed the amount into retained earnings.
The company wants to pay a $2.00 per share dividend on each of
its 25,000 shares of common stock. How will the dividends affect
retained earnings? Show the effects in the
t-account.
Before the company can pay...
2. Show the following details for Spencer Corporation in the t-account for Retained Earnings: At the beginning of 2018, Spencer had a $50,000 debit balance in retained earnings During 2018 the company earned $300,000 of net income and closed the amount into retained earnings. Retained Earnings The company wants to pay a $2.00 per share dividend on each of its 25,000 shares of common stock. How will the dividends affect retained earnings? Show the effects in the t-account. Before the...
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