User Account

All Pages

Prepare a retained earnings statement for the year

Assignment Help Accounting Basics
Reference no: EM13527307

On January 1, 2011, Castle Corporation had retained earnings of $550,000. During the year, Castle had the following selected transactions.

1. Declared cash dividends of $120,000.
2. Corrected overstatement of 2010 net income because of depreciation error $30,000.
3. Earned net income of $350,000.
4. Declared stock dividends of $80,000.

Instructions

Prepare a retained earnings statement for the year.

Reference no: EM13527307

Questions Cloud

Type evolutionary event has occurred-population of anopheles : A population of Anopheles mosquitoes reaches very high densities, and is subjected to aerial spraying by DDT. The following six years, the mosquitoes are not observed at all, but the population was sprayed “just in case”. An outbreak occurs sevem ..
Obtain what would be the true weight of the satellite : A satellite has a mass of 6043 kg and is in a circular orbit 4.60 × 105 m above the surface of a planet. The period of the orbit is 2.2 hours. What would be the true weight of the satellite
Excess of par value-preferred stock : Classify each account using the table headings - Excess of Par Value-Preferred Stock
What distance does the spring need to be compressed : A block with mass m = 16.0 kg rests on a frictionless table, What distance does the spring need to be compressed so that the block will just barely make it past the rough patch when released
Prepare a retained earnings statement for the year : Prepare a retained earnings statement for the year - Castle Corporation had retained earnings of $550,000. During the year, Castle had the following selected transactions.
Calculate the vertical height between the two climbers : A rock climber throws a small first aid kit to another climber who is higher up the mountain. What is the vertical height between the two climbers
Prepare a product positioning map : Prepare a product positioning map,
How fast was the car traveling when it went over the cliff : A car drives straight off the edge of a cliff that is 46 m high. How fast was the car traveling when it went over the cliff
Prepare adjusting entry to record securities at fair value : Garrett Corporation holds as a long-term investment available-for-sale stock securities costing $72,000. At December 31, 2011, the fair value of the securities is $66,000. Prepare the adjusting entry to record the securities at fair value.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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