Retained earnings account basics

Reference no: EM13140975

Increase (Decrease)
Cash $84,920 Accounts Payable $(52,160)
Accounts Receivable (net) 52,530 Bonds Payable 90,930
Inventory 135,210 Common Stock 131,620
Investments (47,680) Additional Paid-in Capital 17,380

Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $22,590 which was paid in the current year.

Reference no: EM13140975

Questions Cloud

What is cost formula for utility expenses : What is cost formula for utility expenses? What is the budgeted utility cost for September 2011 if 31,250 machine hours are projected?

Three studies which utilize an experimental design : Three studies which utilize an experimental design; b) Three studies which utilize a quasi-experimental design; and c) Three studies which utilize a pre-experimental design.

Prepare a schedule of cost of contract : Prepare a schedule of cost of contract services provided (similar to a cost of goods manufactured schedule) for the month. (List amounts from largest to smallest eg 10, 5, 3, 2.)

At what temperature the balloon must be cooled : A balloon originally has a volume of 4.39L at 44 C and a pressure of.959atm. The balloon must be cooled to what temperature in order to reduce its volume to 3.78 L?

Retained earnings account basics : Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $22,590 which was paid in the current year.

Write a five paragraph essay taking a personal stand on cybe : write a five paragraph essay taking a personal stand on cyberbullying

Define write-back write allocate : How do we deal with a L1 cache that is Write-back Write allocate, and the L2 cache, which is a Write-through Write no-allocate?

Which cranial nerve is probably being compressed : A tumor is pressing on one cranial nerve. The most significant presenting sign is unequal pupils. Which cranial nerve is probably being compressed?

Explain your context : Explain your context, sector and current level of experience and provide the name of the curriculum framework (and its weblink) most relevant to your context (approx. 50 words -).

User Account

All Pages