If the beginning balance of retained earnings is $180,000, revenue is $85,000, expenses total $35,000, and the company declares and pays a $20,000 dividend what is the ending balance of retained earnings?
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A: Ending retained earnings = Beginning retained earnings + Net income - Dividneds
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A: Hi student Since there are multiple questions, we will answer only first question. Multi Step…
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- On January 1, 2020, Windsor, Inc. had retained earnings of $498,000. During the year, Windsor had the following selected transactions. 1. Declared cash dividends $116,000. 2. Earned net income $343,000. 3. Declared stock dividends $58,000. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Windsor, Inc.Retained Earnings Statement $ : : $ $A company has current assets of $616,000 and current liabilities of $221,000. The board of directors declares a cash dividend of $168,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend?On January 1, 2022, Pharoah Corporation had retained earnings of $546,000. During the year, Pharoah had the following selected transactions. 1. 2. 3. 4. Declared and paid cash dividends $126,000. Corrected overstatement of 2021 net income because of inventory error $43,000. Earned net income $348,000. Declared and paid stock dividends $63,000. Determine the retained earnings balance at the end of the year. Retained earnings $
- The balance sheet of Zinc Industries, a producer of zinc, showed retained earnings of $37,000 on its January 31, 2020 balance sheet. On its January 31, 2021 balance sheet, retained earnings was $40,000. Zinc Industries reported net income for the year ended January 31, 2021, of $25,000. How much dividend did Zinc Industries declare and pay during the year ended January 31, 2021? Select one: a. $28,000 b. $22,000 c. $25,000 d. $32,000 e. $15,000Retained earnings at the beginning of the year is $100,000. Total assets are $400,000. Liabilities are $250,000. Net income for the year is $25,000. Dividends are $5,000. What is ending retained earnings? A O $270,000 O $120,000 O $520,000 O $150,000Prepare a statement of retained earnings for Tidal Company for the current year ended December 31 using the following data. (Amounts to be deducted should be indicated by a minus sign.) Cash dividends declared and paid in current year Retained earnings at December 31, prior year Net income in current year Tidal Company Statement of Retained Earnings For Current Year Ended December 31 $ 8,800 61,600 34,600
- Retained Earnings has a $3,000 Debit balance (Retained Loss) at the beginning of 2021. The company has sales of $5,000 and expenses of $3,200 during 2021. They also pay dividends of $1,000 during 2021. What is the 2021 ending balance in retained earnings after all closing journal entries?Windsor, Inc. began the year with retained earnings of $107000. During 2022, the company issued $79500 of common stock for cash. The company recorded revenues of $760000, expenses of $627000, and paid dividends of $38000. What was Windsor's net income for the year 2022? O $133000 O $95000 O $212500 O $174500Salamon, Inc. had Retained earnings of $400,000 on 1/1/22. The company earned $250,000 forthe year ended 12/31/22. The company declared a cash dividend of $75,000 and a stockdividend of $20,000 during the year.a. Prepare the journal entries to close net income and dividends into retained earnings.b. Prepare a Retained Earnings Statement for the year ended 12/31/22.
- A company reports the following income statement and balance sheet information for the current year: Net income $132,370 Interest expense 11,510 Average total assets 2,180,000 Determine the return on total assets. Round the percentage to one decimal place.fill in the blank %Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23,000 Retained Earnings ? Accounts Payable 00 Supplies Cash Common Stock 110,000 9,000 8,000 Equipment, net 154,000 a. Calculate the balance in Retained Earnings at year-end $ 0 b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $42,000For the year ending December 31, 2022, Sheridan Inc. reports net income $147,000 and cash dividends $88,500. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2022, was $223,500. Balance in retained earnings %24