What was the balance in the retained earnings

Assignment Help Financial Management

Reference no: EM131312316

Smith Co had retained earnings of 60,000 at the end of the current year. For the current year, the income was 30,000 and dividends were 10,000. What was the balance in the retained earnings at the end of the prior year? 40,000 20,000 60,000.

Reference no: EM131312316

Questions Cloud

What is the value of this endowment in todays dollars : A wealthy philanthropist has established the follo... Save A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $ 10 M one year from now; an annual cash deposit of $5M per year..

Marginal tax rate : With a 30 percent marginal tax rate, would a tax-free yield of 6.1 percent or a taxable yield of 7.7 percent give you a better return on your savings?

Annual percentage yield for savings account : What would be the annual percentage yield for a savings account that earned $26 in interest on $400 over the past 365 days?

Future value-determine the savings amount : For each of these situations, determine the savings amount. Use the time value of money tables in Exhibit 1-A, Exhibit 1-B, Exhibit 1-C. What would be the future value of a savings account started with $700, earning 10 percent (compounded annually) a..

What was the balance in the retained earnings : Smith Co had retained earnings of 60,000 at the end of the current year. For the current year, the income was 30,000 and dividends were 10,000. What was the balance in the retained earnings at the end of the prior year? 40,000 20,000 60,000.

What is meant by a march cycle with option contracts : What are some advantages of the early exercise feature of American options? What is meant by a “March cycle” with option contracts? Which contracts trade? What is meant by an offsetting order? Why can’t options be bought on margin?

What tax rate would investor be indifferent in two bonds : An investor recently purchased a corporate bond which yields 10.5%. The investor is in the 34% combined federal and state tax bracket. What is the bond's after-tax yield? Corporate bonds issued by Johnson Corporation currently yield 11.5%. Municipal ..

Which project is financially acceptable : Assume you are the Chief Financial Officer at Porter Memorial Hospital. The CEO has asked you to analyze two proposed capital investments - Project X & Project Y. Each project has a net investment outlay of $10,000 and the opportunity cost for each p..

Regard salvage value as negative term of cost : An improvement to the roadway is desired from Philmont Scout Ranch to Springer in northeastern New Mexico. Alternative N (for north) costs $2, 400,000 initially and $ 155,000/year thereafter. The salvage values (regard salvage value as negative term ..

User Account

All Pages