User Account

All Pages

Determine the retained earnings balance at December

Assignment Help Accounting Basics
Reference no: EM133112507

Question - The following summarised trail balance has been extracted from the books of Anderson Ltd at 31 December 2012:

Administrative expenses 130,000

Cash at bank 50,000

Distribution Costs 244,000

Dividends paid 35,000

Inventories (as at 1 January 2012) 45,000

Other expenses 24,000

Property, Plant & equipment 700,000

Property, plant & equipment (accumulated depreciation 31/12/12) 250,000

Purchases 490,000

Retained earnings (as at 1 January 2012) 48,000

Sales 1,000,000

Share Capital 500,000

Trade Payables 120,0000

Trade Receivables 200,000

Additional Information (i) Inventories at 31 December 2012 amounted to $43,000. (ii) The Corporation tax charge for the year has been calculated at $25,000.

Required - Determine the retained earnings balance at 31 December 2012?

Reference no: EM133112507

Questions Cloud

Beta from regression and two betas from analysts : WACC of Nvidia with work. Cost of Equity (Common Stock)
NASDAQ or New York Stock Exchange : Select a company that is listed on the NASDAQ or New York Stock Exchange. Does the company use product champions?
Opinion of the topic foreign domestic investment : 1. What is you overall opinion of the topic foreign domestic investment
Describe how another health care product : External influences play a significant role in the success of any industry. Describe how another health care product or service may be influenced
Determine the retained earnings balance at December : The Corporation tax charge for the year has been calculated at $25,000. Determine the retained earnings balance at 31 December 2012
Choose the two segments of general environment : Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose.
Provide a baseline for allocating your capital : Understand your current financial status and future financial goals. Also, you assess your risk toleration and design your portfolio mix
Calculate the alphas of both shares : Assume the market return is 12% and the risk-free rate is 6%. Bassoon Ltd shares have provided 13% actual return, while Piccolo Ltd shares have provided 15% act
What will be the roe for project : Universal Exports Inc. is a small company and is considering a project that will require $600,000 in assets. The project will be financed with 100% equity. The

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the employee federal income tax withholding

An employee's gross pay for a period is $720. The employee takes one withholding for a federal allowance of $79.80. What is the employee federal income tax

  Which item is not included in stockholders equity section

Which item is NOT included in the Stockholders' Equity section? Accumulated Other Comprehensive Income./ Common Stock Dividend Distributable

  How much shortfall penalty is the ato likely to charge

The auditor also found that Marcus did not keep proper records of his transactions. How much shortfall penalty is the ATO likely to charge

  What was the company revenue for the year

Pharoah Company began the year with owner's equity of $107100. If Pharoah's ending owner's equity was $289800, what was the company's revenue for the year

  Heineken n. v. reports the following information

Heineken N. V. reports the following information for its Loans and Borrowings as of December 31, 2010, including proceeds and repayments for the year ended December 31, 2010 (euros in millions).

  How do you prepare the consolidated adjusting entries

How do you prepare the consolidated adjusting entries - Stanford uses the equity method for accounting for its investment in Stanford

  Bear is expecting a 20-cent increase in variable expenses

bear publishing sells a nature guide. the following information was reported for a typical month sales volume is

  Determine the ending oaa balance

If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?

  Identify connections and relationships of principle included

Analyze the codes of conduct of at least 3 major public U.S. companies. Include citations for each of these companies' codes of conduct. Identify connections and relationships of the principles included.

  Determine the allocated factory overhead cost

Determine the Allocated Factory Overhead cost for the month of August using the following information. The allocation base is direct labor cost.

  What percentage of the investment total growth occurred

The investment is made for 100 years and then withdrawn. What percentage of the investment's total growth occurred in years 26-75

  Nielson corp sells its product for 8800 per unit variable

nielson corp. sells its product for 8800 per unit. variable costs per unit are manufacturing 4800 and selling and

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