Reference no: EM132987319
Retained Earning StRolt Company began 2016 with a $ 130,000 balance in retained earnings. During the year, the following events occurred.
1) The company earned a net income of $72,000
2) A material error in net income from a previous period was corrected. The error correction increased retained earnings by $ 9,590 after related income taxes of $3300.
3) Cash dividends totaling $13,500 and stock dividends totaling $ 16,000 were declared.
4) One thousand shares of callable preferred stock that originally had been issued at $105 per share were recalled and retired at the beginning of 2016 for the call price of $ 120 per share.
5) Treasury stock (common) was acquired at a cost of $24,000. State law requires a restriction of retained earnings in an equal amount. The company reports its retained earnings restrictions in a note to the financial statements.
Problem 1: Prepare a statement of retained earnings for the year ended December 31, 2016.
How many oid bonds must the firm issue to raise
: Moon Software Inc. is planning to issue two types of 25-year, noncallable bonds to raise a total. How many OID bonds must the firm issue to raise $3,000,000?
|
How many oid bonds must the firm issue to raise
: Moon Software Inc. is planning to issue two types of 25-year, noncallable bonds to raise a total. How many OID bonds must the firm issue to raise $3,000,000?
|
Recommend for employee training in human resources
: Select the appropriate communication channel for the following case examples. There may be more than one channel to choose from.
|
What is best estimate of the current intrinsic stock price
: Huxley has $5 million in short-term investments and $7 million in debt and has 1 million shares outstanding. What is the best estimate of the current intrinsic
|
Make a statement of retained earnings for the year
: Prepare a statement of retained earnings for the year ended December 31, 2016. A material error in net income from a previous period was corrected.
|
What is the equation that the analysis provides
: Linear regression. X Y2.2 3.41.7 2.6 2.7 3.73.1 3.8
|
What is the npv assuming a general inflation rate
: What is the NPV assuming a general inflation rate of 8% and an increase in cash flow to $510 per year? A firm is considering a project with a cash flow.
|
Expanding from the united states to mexico
: Present the currency structure of Mexico, including the size of the economy and investor base, in Mexico.
|
What deferred tax asset in blossom december balance sheet
: If Blossom expects taxable income in future years, the deferred tax asset in Blossom's December 31, 2021 balance sheet should be
|