Landon corporation was organized on january 2 2012 with the

Assignment Help Accounting Basics

Reference no: EM13586270

Landon Corporation was organized on January 2, 2012, with the investment of $110,000 by each of its two stockholders. Net income for its first year of business was $89,540. Net income increased during 2013 to $132,520 and to $155,050 during 2014. Landon paid $21,000 in dividends to each of the two stockholders in each of the three years.

Prepare a statement of retained earnings for the year ended December 31, 2012.

I'd like to understand how you got the answer. I've got part of it right. I know the net income for 2012 is $145,480 and I know the Dividends paid were -40,000. I need the retained earningsJan 1st 2012 and then the Retained earnings Dec 31 2012.

Retained Earnings Jan 1 2014 ?

Net Income 2012 155050

Dividends paid 42,000

Retained Earnings Dec 31 2014 ?

Reference no: EM13586270

Questions Cloud

Aif each sphere represents 10 x 10-3 mol of ion will the : flask a 25 ml 8 oh- ions and 4 ca 2 ionsflask b 25 ml 6 h ions and 6 cl- ionsa if each sphere represents 1.0 x 10-3 mol

Cooperative san joseacute of southern sonora state in : cooperative san joseacute of southern sonora state in mexico makes a unique syrup using cane sugar and local herbs. the

Gerald needs to purchase baseballs and bats for his youth : gerald needs to purchase baseballs and bats for his youth baseball league. he will need at least 25 pieces of equipment

Rfs is considering adding a new product line home equity : rfs is considering adding a new product line home equity loans which rfs believes will make the mortgage business more

Landon corporation was organized on january 2 2012 with the : landon corporation was organized on january 2 2012 with the investment of 110000 by each of its two stockholders. net

Is it appropriate for banks and savings associations to : is it appropriate for banks and savings associations to estimate an allowance for pass loans and for credit unions to

Would your answers to the preceding questions change if tom : tom and gail form owl corporation with the following considerationconsideration transferredbasis to transferorfair

The pilots final score s is the average speed minus any : question a race pilots average rate of speed over a 720-mi course is inversely proportional to the time in minutes t

M and e are equal partners in the me partnership e decides : m and e are equal partners in the me partnership. e decides to leave the partnership and receives a liquidating

User Account

All Pages