I need both of these questions answered within an hour or less!! Firefly, Inc., reported the following results for the year ending July 31:Retained earnings, August 1$875,000Net income450,000Cash dividends declared140,000Stock dividends declared60,000Prepare a retained earnings statement for the fiscal year ended July 31.Firefly, Inc.Retained Earnings StatementFor the Year Ended July 31 On May 10, a company issued for cash 1,000 shares of no-par common stock (with a stated value of $4) at $18, and on May 15, it issued for cash 6,000 shares of $17par preferred stock at $62.Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave itblank.May 10May 15

Retained earnings are earnings that were not distributed as dividends. Out of the net income, the…

refly, Inc., reported the following results for the year ending July 31 etained earnings, August 1 $875,000 let income 450,000 Cash dividends declared 140,000 Stock dividends declared 60,000 repare a retained earnings statement for the fiscal year ended July Firefly, Inc. Retained Earnings Statement For the Year Ended July 31

refly, Inc., reported the following results for the year ending July 31 etained earnings, August 1 $875,000 let income 450,000 Cash dividends declared 140,000 Stock dividends declared 60,000 repare a retained earnings statement for the fiscal year ended July Firefly, Inc. Retained Earnings Statement For the Year Ended July 31

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the TVM Solver to answer the following questions. Write each known variable's value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable's value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Round to three decimals or by context. 1. Thomas plans to invest $3,400 into a money market account with a 6% annual interest rate compounded weekly. How much will be in the account after 9 years? Variable Value N = 1% = PV = PMT= FV = PY = CY = What is the Missing Variable Unit? Write a Context Sentence:
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