Brantly​, Inc. had beginning retained earnings of $140,000 on January ​1, 2024. During the​ year, Brantly declared and paid $80,000 of cash dividends and earned $70,000 of net income. Prepare a statement of retained earnings for Brantly​, Inc. for the year ending December ​31, 2024.   Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal.​ (Check your spelling carefully and do not​ abbreviate.)   Brantly, Inc. Statement of Retained Earnings Year Ended December 31, 2024

Q: Anaya's opening balance of retained earnings is Rs.75000, it earns net profit of Rs.45000 in 2020…

A: Dividend to shareholders = Opening balance of retained earnings + Net income - Closing balance of…

Q: opening balance of Retained earnings

A: Retained earnings is the portion of profits retained by the entity to be used in its revenue…

Q: During 2020, Campbell Company entered into the following transactions. Purchased equipment for…

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed…

A: The accounting equation states that assets are equal to the sum of the liabilities and equity.Ending…

Q: At the beginning of 2024, Norton Academy reported a balance in common stock of $168,000 and a…

A: Common Stock : Ending balance = Beginning balance + Issuance of common stock Retained earnings :…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed…

A: Lets understand the basics. As per balance sheet equation or accouting equation, total assets are…

Q: Windsor Corporation has retained earnings of $706,000 at January 1, 2020. Net income during 2020 was…

A: Ending Retained earnings balance = Beginning Retained earnings balance + Net Income - Dividend…

Q: Bonita Company began the year 2025 with retained earnings of $651000. During the year, the company…

A: Changes in retained earnings represent the fluctuations in a company's accumulated profits over a…

Q: The balance of retained earnings of Dragon Corporation at the beginning of the year was P650,000.…

A: The retained earnings are the net income of the business to be available for shareholders.

Q: in its most recent financial statements, Nessler Inc. reported $75million of net income and…

A: Step 1: Identify the formula:Ending Retained Earnings = Beginning Retained Earnings + Net Income -…

Q: Phone Corporation began 2021 with retained earnings of $300 million. Revenues during the year were…

A: Retained earnings are the amount of profit a company has left over after paying all its direct…

Q: XYZ Company is doing business for many years. The company had opening balance of Retained earnings…

A: Retained earnings are the number of earnings that are attributable or distributable to the…

Q: HUD, Co, had a beginning retained earnings of $29,240. For the year, the company had net income of…

A: The objective of the question is to calculate the ending retained earnings balance for HUD, Co.…

Q: Wildhorse Co. started the year with $64800 in its Common Stock account and a credit balance in…

A: Retained Earnings is the part of Net Income left over for the business after dividend payments to…

Q: At the beginning of its current fiscal year, Willie Corporation' s balance sheet showed assets of…

A: A dividend is a payment made by a corporation to its shareholders, usually in the form of cash or…

Q: If JoBlo Inc., has a retained earnings opening balance of $50,000 at the beginning of the year, and…

A: Formula: Ending retained earnings balance = Beginning retained earnings balance + Net income -…

Q: At the beginning of its current fiscal year, Willie Corporations balance sheet showed assets of $…

A: As per dual concept of accounting, every transaction has dual impact on the books of accounts, the…

Q: On 12/31/18, Hairs Industries Inc. reported retained earnings of $675,000 on its balance sheet, and…

A: The dividend is paid from the profits earned during the year.

Q: The financial statements of Calloway Company prepared at the end of the current year contained the…

A: The accounting equation shows a company's balance of total assets is equal to the sum of the…

Q: At the beginning of 2024, Norton Academy reported a balance in common stock of $156,000 and a…

A: The statement of stockholders’ equity indicates the formatted statement that helps in determining…

Q: At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,900…

A: Step 1: Complete the beginning balancesassets - given at $11,900liabilities - given at $5,600PIC -…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed…

A: ABCDEFGHI1     Stockholders' Equity 2 Assets= Liabilities +PIC+RE…

Q: Preparing a statement of retained earnings Kingston, Inc. had beginning retained earnings of…

A: Statement of Retained Earnings: A statement which shows earnings retained by a company over the year…

Q: The Opening balance of Retained earnings at beginning of the year 2019

A: Retained earnings is the accumulated earnings which company has earned over its operating years. The…

Q: Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and…

A: Retained earnings refer to the portion of net income that has been accumulated by the entity over…

Q: These items are taken from the financial statements of Sheridan Company for 2022. Retained earnings…

A: Retained earnings refer to the amount earned by the organization till the date of preparation of the…

Q: The year-end financial statements of Calloway Company contained the following elements and…

A: We know that as per the accounting equation, total assets are equal to the addition of total…

Q: a. Prepare a statement of stockholders' equity for KickJoe Co. for the year ended December 31, 2020.…

A: a. Net income was over stated in 2019. So we correct it in 2020 by reducing it by the understated…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders'…

A: Step 1: Beginning Liabilities = Ending Liabilities - Changes  Beginning Liabilities = $221,000 -…

Q: The financial statements of Calloway Company prepared at the end of the current year contained the…

A: We know that as per the accounting equation, total assets are equal to the addition of total…

Q: Sheridan Company started the year with $50400 in its Common Stock account and a credit balance in…

A: Retained earnings are part of the net income left over for the business after dividend payments to…

Q: year, the company reported $620 in net income, and in that next year it paid out a dividend of $200.…

A: As per available information from question  Opening balance of retained earning    $1,250 + net…

Q: On January 1, Payson Inc. had a retained earnings balance of $20,000. During the year, Payson…

A: Ending Retained earnings balance = Beginning Retained earnings balance + Net Income - Dividend paid

Q: At the beginning of 2024, Norton Academy reported a balance in common stock of $168,000 and a…

A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after…

Q: On January 1, 2024, Blossom Corporation had retained earnings of $600,000. During the year, Blossom…

A: Retained earnings refer to an amount that is kept aside out of the profits for the uncertainties…

Q: At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of…

A: A dividend is a payment made by a corporation to its shareholders, usually in the form of cash or…

Q: What is the total assets for the EverBlue company for accounting period 2021? note: write the number…

A: Solution:- Total Assets means the total utilization of funds of funds of an entity. So, Total Assets…

Q: At the beginning of 2024, Ellingham Academy reported a balance in common stock of $164,000 and a…

A: Stockholder's Equity is the statement in which the company reports common stock, retained earnings,…

Q: At the beginning of the current fiscal year, the balance sheet of Cummings Company showed…

A: Net income is the amount of money earned by the entity after deducting the expenses from the…

Q: dividends

A: Formula to calculate net income is given by: Net income = Increase in retained earnings + dividends…

Q: Pager Corporation began 2021 with retained earnings of $200 million. Revenues during the year were…

A: Retained earnings are the amount of profit a company has left over after paying all its direct…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed…

A: The accounting equation states that assets are equal to the sum of the liabilities and equity.Ending…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.