During the year, a company had sales of $770,000 expenses of $330,000 and it declared and paid dividends of $265,000. The company began the year with retainer earnings of $160,000. What was the amount of retainer earnings at the end of the year? Show your work.

During the year, a company had sales of $770,000 expenses of $330,000 and it declared and paid dividends of $265,000. The company began the year with retainer earnings of $160,000. What was the amount of retainer earnings at the end of the year? Show your work.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid a total of $3,000 in dividends and earned a net income of $60,000 this year. What is the ending retained earnings balance?
Provide correct answer for this question
A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Item Wages Amount $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030 At the end of the year, the company expanded by issuing new shares in the business. It planned to raise $2,450,000 through the issue of 70,00 shares. Calculate the price per share.
Florist Grump, Inc., had beginning retained earnings of $148,000. During the year, Florist Grump had net income of $54,000 and declared and paid dividends of $47,000. What will be shown for ending retained earnings on Florist Grump's year-end balance sheet?
Hendrickson Inc. ended the current year with Revenues of $245,459 COGS of $123,492 Wage Expense of $52.770 If Retained Earnings had a beginning balance for the current year of $200,000, what will the ending Retained Earnings balance be for the year after all accounting processes are complete?
Gerardo Company had a net income of $75,000 and other comprehensive income of $12,500 for the year. On January 1, the retained earnings balance was $525,000 and the accumulated other comprehensive income balance was $55,000. a. Determine the comprehensive income for the year. B. Determine the retained earnings balance on December 31. C. Determine the accumulated other comprehensive income on December 31.
At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities of $349,000.During the year Unique collected new contributions by owners of $21,000, paid dividends of $14,000 and had total expenses of $362,000.At the end of the year Unique has total assets of $672,000 and total equity of $377,000.What was the company's beginning total equity? What was the change in liabilities during the year? What was the company's ending total liabilities? What was the company's profit for the year? What is the total revenues earned during the year?
DEF Company is expected to have net income of $250,000 this year. The company traditionally pays out 40 percent of its net income as a dividend. DEF started the year with retained earnings of $490,500. What is their expected retained earnings at the end of the year?
Uno Pizza Store started the year with total assets of $150,000 and total liabilities of $85,000. During the year, the business recorded $175,000 in revenues, $90,000 in expenses, and dividends of $10,000. The net income reported by Uno Pizza for the year was $85,000. 1. If the beginning balance in the retained earnings was $30,000, what will the ending balance of the retained earning be? 2. What was the total capital stock at the beginning of the year? 3. What will the amount of the total assets be at the end of the year?

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