What is the retained earnings after these Transactions? 1. The begining balance of retained earnings is $190000 2. Paid $10000 dividend of preference shares 3. Sales on account $80000, 3% were estimated to be uncollectable, and estimated warranty expense was 4% of sales. The cost of sales was $50000. 4.Issued 1000 ordinary shares to acquire valued at 1000 and equipment with market value of $19800. The cost of equioment was $40000 and accumulated depreciation was $28000. 5. Recored depreciation expenses of $8200 Note: Not all information is useful for these questions.

What is the retained earnings after these Transactions? 1. The begining balance of retained earnings is $190000 2. Paid $10000 dividend of preference shares 3. Sales on account $80000, 3% were estimated to be uncollectable, and estimated warranty expense was 4% of sales. The cost of sales was $50000. 4.Issued 1000 ordinary shares to acquire valued at 1000 and equipment with market value of $19800. The cost of equioment was $40000 and accumulated depreciation was $28000. 5. Recored depreciation expenses of $8200 Note: Not all information is useful for these questions.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 32BEB: During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b....

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During 20X2, Norton Company had the following transactions: a. Cash dividends of 20,000 were paid. b. Equipment was sold for 9,600. It had an original cost of 36,000 and a book value of 18,000. The loss is included in operating expenses. c. Land with a fair market value of 50,000 was acquired by issuing common stock with a par value of 12,000. d. One thousand shares of preferred stock (no par) were sold for 14 per share. Norton provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Norton Company.
H2.
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N1. Account
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The following information has been extracted from the published accounts of Pesa Corporation Limited, a company quoted on the Nairobi Stock Exchange. Shs. Net profit after tax and interest 990,000 Less: dividends for the period 740,000 Transfer to reserves 250,000 Accumulated reserves brought forward 810,000 Reserves carried forward 1,060,000 Share capital (Sh.10 par valu Sh.8,000,000 Market price per share now 12% RequiredCalculate…