Preparing a retained earnings statement

Assignment Help Accounting Basics

Reference no: EM13127332

Beta Corporation had retained earnings of $253,000 on January 1, 2010. The company has a net loss of $43,500 during 2010. It declared and paid a dividend of $21,000 as a cash dividend. In 2010, the company recorded and adjustment of $10,000 due to the understatement (from a math error) of 2009 depreciation. Prepare a retained earnings statement for the year ending December 31, 2010.

Reference no: EM13127332

Questions Cloud

How would you allocate the cost of a dinner among a group : Shifting the focus slightly, think about this. How would you allocate the cost of a dinner among a group of your friends when you go out for an evening?

Compute the amount of the annual rental payment : The equipment has an economic life of 8 years, with an unguaranteed residual value of $10,000. Woods depreciates all of its equipment on a straight-line basis. Compute the amount of the annual rental payment

How many moles of naoh are needed : How many moles of NaOH are needed to raise the pH of a 4.50 L tank containing 0.00100 M HCl solution to 3.50?

Compute earnings per share for 2012 : Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a).

Preparing a retained earnings statement : It declared and paid a dividend of $21,000 as a cash dividend. In 2010, the company recorded and adjustment of $10,000 due to the understatement (from a math error) of 2009 depreciation. Prepare a retained earnings statement for the year ending De..

What is the molarity : What is the molarity of a 1.304 L solution that is made from 14.80 g of NaCl?Answer in units of M.

Preparing the stockholders equity section : The paid-in capital in excess of par value on the preferred stock was $12,000. Retained earnings at December 31, 2010 was $172,000. Prepare the stockholder's equity section of the balance sheet, as of December 31, 2010. If need be, prepare in an E..

How might this approach encourage poor business decisions : Explain why it might make sense for this company to award bonuses based on sales growth. How might this approach encourage poor business decisions when compared to a bonus plan tied to earnings?

What effect will this have on its optimal price : Suppose a manufacturer estimates its marginal cost at $1.00 per pack, its own price elasticity at -2, and sets its price at $2.00. The company's settlement obligations are expected to raise its average total cost per pack by about $.60. What effec..

User Account

All Pages