Prepare retained earnings statement for fiscal year ending

Assignment Help Accounting Basics
Reference no: EM13258217

Dynamic Leaders Inc. reported the following results for the yearending July 31, 2008.

Retained earnings August 1,2007                  988.500

Net Income                                               325.000

Cash didideds declared                                35,000

Stock dividendsdeclared                             90,000

Prepare a retained earnings statement for the fiscal yearending July 31, 2008

Dynamic Leaders, Inc.

Retained Earnings Statement

Retained Earnings as of Aug 1, 2007 988,500









 

Reference no: EM13258217

Questions Cloud

Ethical aspects of symingtons action : How should Symington have recorded this transaction? Anddiscuss ethical aspects of Symington's action.
How much must insurer spend now to fully fund the outflow : A life insurer owes $550,000 in 8 years. To fund this outflow the insurer wishes to buy strips that mature in 8 years. The strips have a $5,000 face value per strip and pay a 6% APR with semiannual compounding. How much must the insurer spend n..
What is the total force of the water on the bottom : A rectangular fish tank measures 30 cm by 65 cm by 40 cm high.  What is the total force of the water on the bottom
Component of cost : Which one of the following is NOT the component of cost?
Prepare retained earnings statement for fiscal year ending : Dynamic Leaders Inc. reported the following results for the yearending July 31, 2008. Prepare a retained earnings statement for the fiscal year ending July 31, 2008
Why these two journalists are reacting differently : The other is getting the work done and seems to enjoy the challenges. Use your knowledge of stress to explain why these two journalists are reacting differently to their jobs.
Long term liabilities section of balance sheet : Which of the following is recorded under Long Term Liabilities section of the Balance Sheet?
Would the investor want to invest in treasury bills : Now assume that short sales are not allowed. (What does this mean for portfolio weights?) Suppose the correlation of returns on the two securities is +1.0, what is the optimal combination of securities 1 and 2 that should be held by the investor w..
Highest possible return : Obtaining the highest possible return with the minimum of use of resources committed is the basic definition of:

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is taxable gain on a joint tax return

Jerry bought his home 15 years ago for $60,000. Three years ago Jerry married Debbie and she moved into the same house and has lived there since. If they sell Jerry's house in December, 2010 for $340,000, what is their taxable gain on a joint tax ..

  Prepare a schedule indicating cash collections

Prepare a schedule indicating cash collections from sales for May, June, and July.

  Amount of outstanding checks

Fitzgerald Company wrote checks totalling $17,080 during October and $18,650 during November. What was the amount of outstanding checks on November 30?

  Find total manufacturing costs assigned to job a-200

Weaver Company's predetermined overhead rate is $18.00 per direct labor-hourand its direct labor wage rate is $12.00 per hour. Tjhe following information pertains to Job A-200.

  How much are total manufacturing costs for the period

How much are total manufacturing costs for the period?

  Effects on net income

At December 31, 2008, McGovern Company overstated ending inventory by $50,000. How does this error affect net income for 2009?

  Return and risk of small-company stocks

Calculate the average returns on small-company stocks and u.s. treasury bills. Calculate the variances and standard deviations of the returns on small-company stocks and u.s. treasury bills.

  Cost of land versus building ethics

Tones Company purchased a warehouse in a downtown district where land values are rapidly increasing. Gerald Carter, controller, and Wilma Ankara, financial vicepresident, are trying to allocate the cost of the purchase between the land and the bui..

  What should bronze corporation report

bronze corporation sold machinery for $27,000 on december 31, 2011. The machinery had been purchased on january 2, 2008 for $40,000 and had an adjusted basis of $21,000 at the date of the sale. For 2011, what should Bronze Corporation report?

  Determining companys cost of common equity

The yield to maturity on the company's outstanding bonds is 9 percent, and the company's tax rate is 40 percent. Percy's CFO has calculated the company's WACC as 9.96 percent. What is the company's cost of common equity?

  Benefit of budgeting concept

Which of the following is not a benefit of budgeting? a) It uncovers potential bottlenecks before they occur. b) It ensures that accounting records comply with generally accepted accounting principles.

  Find the appropriate sec filing

Find the appropriate SEC filing to identify the document where the IC report was filed with the SEC. A 10K-A is an an amended 10-k filing and a 20-F is a filing for foreign companies that contains the financial statement information.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd