User Account

All Pages

Prepare the statement of retained earnings

Assignment Help Accounting Basics
Reference no: EM13866413

The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed:

Net income for the year was $ 48,000.

Required:

1. Prepare the statement of retained earnings for the year ended December 31 and the stockholders equity section of the balance sheet at December 31.

2. Determine the number of shares of stock that received dividends.

3. Compute the ROE ratio for the current year, assuming total stockholders’ equity was $ 629,000 on December 31 of the previous year.

Reference no: EM13866413

Questions Cloud

Several independent errors : The following are several independent errors: 1. In January 2010, repair costs of $9,000 were debited to the Machinery account. At the beginning of 2010,
Before, and instituted new accounting policies. : On January 2, 2010, Quo, Inc. hired Reed as its controller. During the year, Reed, working closely with Quo 's president and outside accountants, made changes in accounting policies, corrected several errors dating from 2009 and before, and institute..
Believe fraudulent reporting is positively correlated : Explain whether you believe fraudulent reporting is positively correlated with each of the following conditions More financial pressure imposed by a supervisor of a firm
What might have been the motivation for such action? : Devise a scenario to explain how and why the Krispy Kreme accruals were made in the amounts that they were What might have been the motivation for such action?
Prepare the statement of retained earnings : Prepare the statement of retained earnings for the year ended December 31 and the stockholders equity section of the balance sheet at December 31. Determine the number of shares of stock that received dividends. Compute the ROE ratio for the current ..
Company decided to change from the lifo to the fifo : At the beginning of 2011, the Flynne Company decided to change from the LIFO to the FIFO inventory cost flow assumption. The following data are available:
Explain how the use of available-for-sale securities : Explain how the use of available-for-sale securities can lead to managed earnings
Family reliant on wood products from the forest : You have moved to a small village in a developing country. The people in this village rely on the nearby forest for the wood they use for cooking. The forest officially is a park and should not be harvested, but there are very few park rangers, and m..
Explain how tinsel town can make revenue recognition : Explain how Tinsel town can make revenue recognition decisions that enable it to manage earnings over the three-year duration of the contract.

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