Adjusting entries-retained earnings

Assignment Help Financial Accounting

Reference no: EM13776664

Adjusting Entries: Retained earnings at 1/1/1X were $100,000 and at 12/31/1X it was $350,000. During 201X, cash dividends of $40,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings. You are to provide the missing closing entry. For each journal entry write Dr. for debit and Cr. for credit.

Reference no: EM13776664

Questions Cloud

Production and direct materials budgets : Sales: Sales for the year are expected to total 1,400,000 units. Quarterly sales are 20%, 24%, 24%, and 32%, respectively. The sales price is expected to be $39 per unit for the first three quarters and $44 per unit beginning in the fourth quarter.

What advice would you give to any other individuals : How do you proceed - what information are you after, how do you gather it, and what instructions do you provide for your team?

Build an effective technology support team : Prepare a 1,050- to 1,400-word paper on what it takes to build an effective technology support team. Address such issues as personalities and how they can affect relationships within and beyond the technical staff.

Assignment on the virtual memory manager : Most operating systems use a virtual memory manager (VMM) whose responsibility is to manage the relationship between the virtual organization of memory as seen by an application with the physical organization of memory from the operating system's ..

Adjusting entries-retained earnings : Adjusting Entries: Retained earnings at 1/1/1X were $100,000 and at 12/31/1X it was $350,000. During 201X, cash dividends of $40,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings. You ..

What are the benefits of a comprehensive control program : What are the benefits of a comprehensive control program? If you were advising this corporation, what would be the specific benefits for it? What procedures should be considered for detective controls, including independent checks and a system for do..

Identify the polymeric or explosive materials : Describe the incident and identify the polymeric or explosive materials and discuss the chemical interactions of the material(s) involved in this incident or hazardous properties relevant to the incident.

Write a research paper on public relations with social media : Write a research paper about public relations with social media.

Actual and contemplated capital financing transactions : In September 1996, Anne hired J.P. Suisse, a top tier investment bank, to take Scanlon Technologies public. On January 1, 1997, the company, which was authorized by the State of Delaware to sell 20 million common stock and 10 million preferred stock,..

User Account

All Pages