Corporate Financial Accounting
14th Edition
ISBN: 9781305653535
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 12, Problem 12.7BE
Noric Cruises Inc. reported the following results for the year ended October 31:
| Retained earnings, October 1 | $12,400,000 |
| Net income | 2,350,000 |
| Cash dividends declared | 175,000 |
| Stock dividends declared | 300,000 |
Prepare a retained earnings statement for the month ended October 31.
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Retained Earnings Statement
Willow Wanderer Cameras Inc. reported the following results for the year ending October 31, 20Y9:
Retained earnings, November 1, 20Y8
$2,120,000
Net income
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Cash dividends declared
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Stock dividends declared
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Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9.
cash/net income/retained earning, oct 31 20y9/retained earnings, nov 1 20y8/accounts receivable/dividends declared/
Willow Wanderer Cameras Inc.
Retained Earnings Statement
For the Year Ended October 31, 20Y9
$
$
$
Retained Earnings Statement
Willow Wanderer Cameras Inc. reported the following results for the year ended October 31, 20Y9:
Retained earnings, November 1, 20Y8
$2,331,000
Net income
979,000
Cash dividends declared
85,000
Stock dividends declared
219,000
Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9.
Willow Wanderer Cameras Inc.
Retained Earnings Statement
For the Year Ended October 31, 20Y9
%24
Relationships Among the Financial Statements
The following information for Kellman Inc. is available at the end of the year.
Total assets on Jan. 1
$72,500
Total assets on Dec. 31
78,900
Total liabilities on Jan. 1
12,100
Total liabilities on Dec. 31
9,800
Common stock on Jan. 1
Common stock on Dec. 31
Net income for the year
Required:
Calculate the amount of dividends declared reported on the retained earnings statement.
$50,000
50,000
14,400
Chapter 12 Solutions
Corporate Financial Accounting
Ch. 12 - Of two corporations organized at approximately the...Ch. 12 - A stockbroker advises a client to buy preferred...Ch. 12 - A corporation with both preferred stock and common...Ch. 12 - An owner of 2,500 shares of Simmons Company common...Ch. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - A corporation reacquires 60,000 shares of its own...Ch. 12 - The treasury stock in Discussion Question 7 is...Ch. 12 - Prob. 9DQCh. 12 - Prob. 10DQ
Ch. 12 - Prob. 12.1BECh. 12 - Prob. 12.2BECh. 12 - Entries for cash dividends The declaration,...Ch. 12 - Entries for stock dividends Alpine Energy...Ch. 12 - Prob. 12.5BECh. 12 - Reporting stockholders equity Using the following...Ch. 12 - Retained earnings statement Noric Cruises Inc....Ch. 12 - Dividends per share Seventy-Two Inc., a developer...Ch. 12 - Prob. 12.2EXCh. 12 - Entries for issuing par stock On January 22,...Ch. 12 - Prob. 12.4EXCh. 12 - Issuing stock for assets other than cash On...Ch. 12 - Selected stock transactions Alpha Sounds Corp., an...Ch. 12 - Issuing stock Willow Creek Nursery, with an...Ch. 12 - Issuing stock Professional Products Inc., a...Ch. 12 - Entries for cash dividends The declaration,...Ch. 12 - Entries for stock dividends Healthy Life Co. is an...Ch. 12 - Prob. 12.11EXCh. 12 - Effect of cash dividend and stock split Indicate...Ch. 12 - Selected dividend transactions, stock split...Ch. 12 - Prob. 12.14EXCh. 12 - Treasury stock transactions SprayCo Inc. develops...Ch. 12 - Prob. 12.16EXCh. 12 - Reporting paid-in capital The following accounts...Ch. 12 - Stockholders Equity section of balance sheet The...Ch. 12 - Stockholders Equity section of balance sheet...Ch. 12 - Retained earnings statement Sumter Pumps...Ch. 12 - Stockholders Equity section of balance sheet List...Ch. 12 - Prob. 12.22EXCh. 12 - Dividends on preferred and common stock Pecan...Ch. 12 - Prob. 12.2APRCh. 12 - Stock transactions for corporate expansion On...Ch. 12 - Entries for selected corporate transactions Morrow...Ch. 12 - Entries for selected corporate transactions...Ch. 12 - Prob. 12.1BPRCh. 12 - Stock transaction for corporate expansion Pulsar...Ch. 12 - Selected stock transactions Diamondback Welding ...Ch. 12 - Entries for selected corporate transactions Nav-Go...Ch. 12 - Entries for selected corporate transactions West...Ch. 12 - Selected transactions completed by Equinox...Ch. 12 - Prob. 12.1ADMCh. 12 - Prob. 12.2ADMCh. 12 - Prob. 12.3ADMCh. 12 - BBT and Regions Financial: Earnings per share BBT...Ch. 12 - Ethics In Action Tommy Gunn is a division manager...Ch. 12 - Prob. 12.3TIF
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