User Account

All Pages

What is the addition to retained earnings

Assignment Help Financial Accounting
Reference no: EM132996857

Questions -

Q1- The Toy Store has beginning retained earnings of $28,975. For the year, the company earned net income of $4,680 and paid dividends of $1,600. The company also issued $3,000 worth of new stock. What is the value of the retained earnings account at the end of the year?

A. $20,445 B. $22,695 C. $27,375 D. $32,055 E. $35,255

Q2- Blasco Printing has net income of $26,310 for the year. At the beginning of the year, the firm had common stock of $35,000, paid-in surplus of $11,200, and retained earnings of $48,420. At the end of the year, the firm had total equity of $142,430. The firm does not pay dividends. What is the amount of the net new equity raised during the year?

A. $18,000 B. $21,500 C. $32,700 D. $48,900 E. $48,310

Q3- Gallagher's Supply has sales of $387,000 and costs of $294,500. The depreciation expense is $43,800. Interest paid equals $18,200 and dividends paid equal $6,500. The tax rate is 35 percent. What is the addition to retained earnings?

A. $10,775 B. $11,460 C. $13,120 D. $13,325 E. $15,450

Reference no: EM132996857

Questions Cloud

Calculate the total cost of a forward hedge for this payable : Annualized 90-day interest rates are 4.71%-4.64% for Canadian dollar and 5.50%-5.35% for the U.S. dollar. Calculate the total cost of a forward hedge
How would a criminal case be appealed to a higher court : Your supervisor has asked you to lead a team of paralegals in your office, How would a criminal case be appealed to a higher court in your jurisdiction?
What would need to know about the defendant to impose : What specific information would you need to know about the offense to aid in sentencing? What would need to know about the defendant to impose
Prepare journal entries on books of twilight corporation : Prepare the journal entries on the books of Twilight Corporation to record each of the above transactions, including any year-end journal entries
What is the addition to retained earnings : The depreciation expense is $43,800. Interest paid equals $18,200 and dividends paid equal $6,500. Tax rate is 35 percent. What is addition to retained earnings
How do think today technology contributes : The nature of sexual victimization might be changing. How do you think today's technology contributes to such changes? Give some examples and explain.
Calculate the value of equity per share : As at 30 June 2020, Harvey Norman Holdings Ltd is traded at $3.54 per share with a book value of $2.83 per share. Calculate the value of equity per share
Analyze and reflect on the alternative methodologies : Analyze and reflect on the alternative methodologies used in developing business information systems - Develop requirements and specifications
Define management and organization and leadership : Describe the aspects of leadership and management that would be successful with different generations. Define management, organization, and leadership.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Give adjusting and closing entries to record depreciation

Give adjusting and closing entries to record depreciation the years 2016, 2017 and 2018. Determine the depreciable cost of machine.

  Prepare an income statement for the year ended

Prepare an income statement for the year ended December 31, 2011, and a balance sheet as of December 31, 2011 and prepare all journal entries to record the information for 2012. Also prepare any necessary adjusting entries.

  One of the auditors roles is to verify inventory values

One of the auditor’s roles is to verify inventory values. The auditor would have to verify both the quantity on hand and the unit cost to determine the inventory value. How would the auditor verify the quantity?

  Calculate the firm dividends per share ratio

Calculate the firm's dividends per share ratio. Holland Tulip Inc. paid $41.30 million in common stock dividends. The company has 21.80 million

  Which one of the alternatives represents the correct amount

Which one of the alternatives represents the correct amount that must be disclosed as depreciation in the statement of profit or los

  Draw decision tree that depicts grolschs investment decision

Draw a decision tree that depicts Grolsch's investment decision. Calculate the NPV of investing today as if it were a now-or-never alterna- tive.

  What is the yield to maturity on the issue

Would you be willing to buy one of these bonds for $829 if you required a 12 percent rate of return on the issue? Explain your answer.

  Which savings large company can enjoy from producing goods

The savings a large company can enjoy from producing goods in high volume that are not available to a small company is called?

  What must be deposited semi-annually into this fund

If the funds earn interest at the rate of 7% compounded semi-annually, what must be deposited semi-annually into this fund

  How much money will be in the account at the end

The first deposit is made today. How much money will be in the account at the end of that time period

  Determine the cash flow from operating activities

Selected financial statement information is reported below for Cameron Corporation for the year ended December 31, 2012 and determine the cash flow from operating activities for the year using the direct method.

  Compute the dollar cost of meeting the pound obligation

Airbus has foreign-currency denominated payable, How Airbus can eliminate the exchange rate exposure and compute the dollar cost of meeting the pound obligation

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