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

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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