Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 16, Problem 1E
Various Dividends Carlyon Company listed the following items in its December 31, 2018, financial statements:
During 2019, the following transactions occurred:
Required:
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WHAT IS THE CORRECT BALANCE OF RETAINED EARNINGS ON DECEMBER 31, 2019?
What is the total balance of Retained Earnings on December 31, 2019?
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending
December 31, 2019, 2020, and 2021.
RENN-DEVER CORPORATION
Statenents of Retained Earnings
For the Years Ended Decenber 31
2020
66,894,692 45,524, 452 $5,674, 552
2,290, 900
2021
2019
Balance at beginning of year
Net incone (loss)
Deductions:
Stock dividend (35,000 shares)
Common shares retired, September 30 (120, 000 shares).
Common stock cash dividends
Balance at end of year
3,313, 700
(150, 100)
247,000
217,660
703, 000
66,894, 692 45, 524, 452
894,950
$9,066, 442
At December 31, 2018, paid-in capital consisted of the following:
Common stock, 1,870,000 shares at 61 par
Paid in capital-exces of par
61,870,000
7,470, 000
No preferred stock or potential common shares were outstanding during any of the periods shown.
Required:
Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2019,
2020, and 2021.…
Chapter 16 Solutions
Intermediate Accounting: Reporting And Analysis
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