User Account

All Pages

Income statement-retained earnings

Assignment Help Finance Basics
Reference no: EM131213861

Income Statement, Retained Earnings, and Balance Sheet for Dickens Corp.

Dickens Corp.'s fiscal year ends on December 31. It started fiscal year 20X6 with $4,800 retained earnings. Below is its financial information as of December 31, 20X6.  

Cash

$3,810

Depreciation expense 

$1,005

Accumulated depreciation-property, plant, & equipment 

$2,010

Accounts receivable 

$2,430

Inventory 

$2,901

Dividends 

$975 

Salaries and wages expense 

$2,100

Income tax payable 

$404

Short-term investment 

$3,600

Accounts payable 

$2,502

Property, plant, & equipment 

$7,260

Salaries and wages payable 

$667

Land 

$9,300

Interest expense 

$1,200

Mortgage payable 

$10,500

Cost of goods sold 

$3,180

Insurance expense 

$630

Prepaid insurance 

$180

Notes payable 

$183

Sales Revenue 

$15,300

Common stock 

$2,700

Income tax expense 

$495

Prepare the following financial statements for Dickens Corp. Ensure you include appropriate headings and statements are in good form.

1. Income statement for the year ended December 31, 20X6.

2. Retained earnings statement for the year ended December 31, 20X6.

3. Classified balance sheet as of December 31, 20X6.

Reference no: EM131213861

Questions Cloud

About the plant assets : Imagine that you are the Chief Financial Officer (CFO) of a startup airline company. The executive management team has tasked you with making a recommendation about whether the company should buy or lease airplanes. Analyze the major pros and cons fo..
Repay the debt with simple interest : Raimo borrowed $920 from Chris on October 28 and agreed to repay the debt with simple interest at the rate of 3.6% on May 16. How much interest was owed on May 16? Assume February 28 days. Round answer to the nearest cent.
Criteria for deciding what other countrys currency to fix to : A country now has a floating exchange rate.- Suggest three major criteria for deciding what other country's currency to fix to. Why is each important?
Prepare differential analysis dated : Sell or Process Further Jackson Lumber Company incurs a cost of $394 per hundred board feet in processing certain "rough-cut" lumber, which it sells for $558 per hundred board feet. Prepare a differential analysis dated March 4, 2014, on whether to s..
Income statement-retained earnings : Dickens Corp.'s fiscal year ends on December 31. It started fiscal year 20X6 with $4,800 retained earnings. Below is its financial information as of December 31, 20X6.
Identify your own dominant temperament type : Identify your own dominant temperament type (1 of 4 main types--Guardian, Idealist, Artisan, Rational) and the role variant (1 of 16 types--if Guardian, then Supervisor, Inspector, Provider, Protector, etc.)
Was a violation of due process an issue in either case : What is an appropriate defense for each case? For each case, what do you feel about the validity of the defense? Why do you feel this way? How would you argue this defense?
Differential analysis for discontinued product : A condensed income statement by product line for Crown Beverage Inc. indicated the following for King Cola for the past year: It is estimated that 12% of the cost of goods sold represents fixed factory overhead costs and that 21% of the operating exp..
Why are some economists not concerned about this : The variability of floating exchange rates since 1973 has been higher than most economists expected. -  Why are some economists not concerned about this?

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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