Determine the amount of sherwood’s retained earnings

Assignment Help Financial Accounting

Reference no: EM13790590

At the end of 2010, Sherwood Company had retained earnings of $18,240. During 2011, Sherwood had revenues of $837,400 and expenses of $792,100, and paid cash dividends in the amount of $38,650.

Required:

1. Determine the amount of Sherwood’s retained earnings at December 31, 2011.

2. Comment on Sherwood’s dividend policy.

Reference no: EM13790590

Questions Cloud

Total overhead costs at this level of activity : Trepid Manufacturing Company prepared a static budget of 40,000 direct labor hours, with estimated overhead costs of $200,000 for variable overhead and $60,000 for fixed overhead. Trepid then prepared a flexible budget at 38,000 labor hours. How much..

Flexible budget for a level of activity : The master budget of Benedict Company shows that the planned activity level for next year is expected to be 50,000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: Indirect labor $240,000, Machine sup..

Evaluate the role and function of finance : Evaluate the role and function of finance, including the presentation and analysis of financial information, in sustaining and contributing towards the competitive advantage of organisations.

Break-even sales-sales for target profit : Health-Temp Company is a placement agency for temporary nurses. It serves hospitals and clinics throughout the metropolitan area. Health-Temp Company believes it will place temporary nurses for a total of 23,500 hours next year.

Determine the amount of sherwood’s retained earnings : At the end of 2010, Sherwood Company had retained earnings of $18,240. During 2011, Sherwood had revenues of $837,400 and expenses of $792,100, and paid cash dividends in the amount of $38,650. Determine the amount of Sherwood’s retained earnings at ..

Write an essay about flemings youthful indiscretions : Write an essay about Fleming's "Youthful Indiscretions".

Explain what hypothesis will suggest about criminal justice : Describe what specific claim, hypothesis, or model of criminal justice you will evaluate with these questions. Explain what the hypothesis will suggest about criminal justice theory if confirmed. Explain what the hypothesis will suggest about crimina..

Write an essay about faith in god : Write an essay about Faith In God.

Create a case study analysis on the company''s external : Conduct a SWOT analysis on the case study company's external and global environment. Create a case study analysis on the company's external and global environmental issues while focusing upon the remote, industry, and operating environments.

User Account

All Pages