User Account

All Pages

Determine the amount of retained earnings

Assignment Help Accounting Basics
Reference no: EM13920403

As of December 31, 2013, Blue Hen Company had total assets of $100,000, total liabilities of $30,000, and common stock of $50,000.

Required: 

a. Determine the amount of retained earnings as of December 31, 2013, after closing. 

b. Explain the difference between common stock and retained earnings. 

c. On January 1, 2014, Blue Hen raised $40,000 by issuing additional common stock. Immediately after the additional capital was raised, Blue Hen reported total equity of $110,000. Are the stockholders of Blue Hen in a better financial position than they were on December 31, 2013? 

Reference no: EM13920403

Questions Cloud

List the components of a typical operating system : List the components of a typical operating system and summarize the role of each in a single phrase.
What would constitute inappropriate use of these assessments : How might you provide appropriate and effective feedback to parents about their children's monthly performance on these benchmark assessments? What would constitute inappropriate use of these assessments?
What is the standard cost per unit for the fourth quarter : What is the standard cost per unit for the fourth quarter assuming the learning curve had reached a steady state ie peak efficiency was reached after the 50th unit was produced?
Lg display will build a lcd production plant : LG display will build a LCD production plant at the cost of $ 4 billion. The plant will produce panels larger than 40 inches using glass substrates between 2200 mm and 2500 mm with a total capacity of 120,000 units per month.
Determine the amount of retained earnings : Explain the difference between common stock and retained earnings.
What are the quality costs when you hard drive crashes : Describe the concept of benchmarking. Provide and example of how a restaurant could use benchmarking to improve performance. Which company would be used as a benchmark organization for this restaurant?
What is the degree of operating leverage : Given the following information, what is the degree of operating leverage? Price = $20 per unit; variable cost = $6 per unit; fixed costs = $5,000 per year; depreciation = $8,000 per year; sales = 2,000 units per year. Tax rate = 34%.
Observing and recording behavior in various environments : Which of the following research methods is best at observing and recording behavior in various environments without trying to control the situation?
Explain different types of operators used in oracle : Explain different types of operators used in ORACLE.Explain the following commands with an example.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explain the relationship between section 401 of the sarbanes

Explain the relationship between Section 401 of the Sarbanes Oxley Act and the concept of transparency.

  Problem regarding the inventory journal

Reflect for a moment on the LIFO (Last in First Out) and FIFO (First in First Out) inventory methods. If you were starting a small manufacturing company

  Prepare schedules of cogm and cogs and an income statement

selling exp.........................215000 purchase of raw materials...........260000 direct

  As an alternative to advertising the factory foreman

timberland produces treated wood chips as a by-product of pulp manufacturing. the company purchases materials chemicals

  Preferred shareholders-common stockholders

What amount of dividends must the company pay the preferred shareholders in 2009 if they wish to pay the common stockholders a dividend?

  Sandstrom corporation has an extraordinary loss of 150000

sandstrom corporation has an extraordinary loss of 150000 an unusual gain of 105000 and a tax rate of 40. at what

  Journalize all entries required for marathon running shoes

Journalize all entries required for Marathon Running Shoes

  Prepare a balance sheet for the general fund of city jordan

The unadjusted trial balance for the general fund of the City of Jordan

  Farber corp a distributor of her-based sunscreen is ready

farber corp. a distributor of her-based sunscreen is ready to begin its 3-quarter in which peak sales occur. the

  Total amount of expense relating to items

Lane Corp. has estimated that total depreciation expense for the year ending December 31, 2011 will amount to $300,000, and that 2011 year-end bonuses to employees will total $600,000. In Lane's interim income statement for the six months ended Ju..

  Salaried employee was laid off hr didnt relay the message

salaried employee was laid off... hr didnt relay the message to corporate payroll office. for the next four week the ex

  The books of seal company a calendar year taxpayer had

the books of seal company a calendar year taxpayer had assets and related information as detailed below as of december

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd