K Kenmore, Inc. had beginning retained earnings of $140,000 January 1, 2024. During the year, Kenmore declared and paid $65,000 of cash dividends and earned $90,000 of net income. Prepare a statement of retained earnings for Kenmore, 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. Kenmore, Inc. Statement of Retained Earnings Year Ended December 31, 2024 Dividends declared Net income for the year Prior-period adjustment Retained Earnings, January 1, 2024 Retained Earnings, December 31, 2024

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
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Kenmore, Inc. had beginning retained earnings of $140,000 January 1, 2024. During the year, Kenmore declared and paid $65,000 of cash dividends and earned $90,000 of net income. Prepare a statement of retained earnings for Kenmore, 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.
Kenmore, Inc.
Statement of Retained Earnings
Year Ended December 31, 2024
Dividends declared
Net income for the year
Prior-period adjustment
Retained Earnings, January 1, 2024
Retained Earnings, December 31, 2024
Transcribed Image Text:K Kenmore, Inc. had beginning retained earnings of $140,000 January 1, 2024. During the year, Kenmore declared and paid $65,000 of cash dividends and earned $90,000 of net income. Prepare a statement of retained earnings for Kenmore, 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. Kenmore, Inc. Statement of Retained Earnings Year Ended December 31, 2024 Dividends declared Net income for the year Prior-period adjustment Retained Earnings, January 1, 2024 Retained Earnings, December 31, 2024
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