Accounting: What the Numbers Mean
11th Edition
ISBN: 9781259535314
Author: David Marshall, Wayne William McManus, Daniel Viele
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 4, Problem 4.13E
Exercise 4.13
LO 3
Calculate retained earnings On February l, 2016, the balance of the retained earnings account of Blue Power Corporation was $315,000. Revenues for February totaled $61,000, of which $57,500 was collected in cash. Expenses for February totaled $65,000, of which $54,000 was paid in cash. Dividends declared and paid during February were $6,000.
Required:
Calculate the retained earnings balance at February 28, 2016.
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QUESTION 6
Bodie Corporation reported the following amounts in its financial statements:
$58,560
$113,099
$74,044
Retained earnings, Jan. 1, 2018
Retained earnings, Dec. 31, 2018
Net income, 2018
What were the dividends declared and paid in 2018? $
Question 25
The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2017:
Accounts payable
Accounts receivable
Accumulated depreciation-equipment
Advertising expense
Cash
Share capital-ordinary
Dividends
Depreciation expense
Equipment
Insurance expense
Note payable, due 6/30/18
Prepaid insurance (12-month policy)
Rent expense
Retained earnings (1/1/17)
Salaries and wages expense
Service revenue
Supplies
Supplies expense
¥ 72,000
44,000
112,000
84,000
60,000
168,000
56,000
48,000
840,000
12,000
280,000
24,000
68,000
240,000
128,000
532,000
16,000
24,000
What is the company's net income for the year ending December 31, 2017?
¥532,000
¥168,000
Ⓒ¥112,000
V48,000
ов. 2, 3
PR 15-4A Nineteen measures of solvency and profitability
f days'
bles, 36.5
of Bettancort Inc. common stock was $71.25 on December 31, 2016.
Bettancort Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 2016 and 2015
2015
2016
$2,400,000
280,000
Retained earnings, January 1..
Add net income for year
$2,655,000
300,000
$2,955,000
$2,680,000
Total
Deduct dividends:
$
15,000
$
15,000
On preferred stock
On common stock. .
Total.......
10,000
10,000
25,000
$2,930,000
25,000
$2,655,000
Retained earnings, December 31
Bettancort Inc.
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
2016
2015
Sales.
$1,000,000
475,000
$ 525,000
$ 200,000
150,000
$ 350,000
$ 175,000
225,000
$ 400,000
$1,200,000
Cost of goods sold..
Gross profit.
Selling expenses
Administrative expenses..
Total operating expenses
Income from operations
500,000
$ 700,000
$ 240,000
180,000
$ 420,000
$ 280,000
Other income..
166,000
$ 446,000
Other expense (interest)…
Chapter 4 Solutions
Accounting: What the Numbers Mean
Ch. 4 - Prob. 4.1MECh. 4 - Mini-Exercise 4.2 LO 2, 6, 7 Record transactions...Ch. 4 - Prob. 4.3MECh. 4 - Prob. 4.4MECh. 4 - Exercise 4.5 LO 2. 6, 7 Record transactions and...Ch. 4 - Exercise 4.6 LO 2. 6, 7 Record transactions and...Ch. 4 - Exercise 4.7 LO 6 Write journal entries Write the...Ch. 4 - Exercise 4.8 LQ 6 Write journal entries Write the...Ch. 4 - Exercise 4.9 LO 2, 6, 7 Record transactions and...Ch. 4 - Exercise 4.10 LO 2. 6, 7 Record transactions and...
Ch. 4 - Exercise 4.11 LO 2. 6, 7 Record transactions and...Ch. 4 - Exercise 4.12 LO 2, 6, 7 Record transactions and...Ch. 4 - Exercise 4.13 LO 3 Calculate retained earnings On...Ch. 4 - Prob. 4.14ECh. 4 - Exercise 4.15 LO 6 . 7 Notes receivable-interest...Ch. 4 - Exercise 4.16 LO 6, 7 Notes payable-interest...Ch. 4 - Exercise 4.17 LO 6, 7 Effect of adjustments on net...Ch. 4 - Exercise 4.18 LO 6, 7 Effects of adjustments A...Ch. 4 - Exercise 4.19 LO 6 , 7 T-account analysis Answer...Ch. 4 - Exercise 4.20 LO 6, 7 Transaction analysis using...Ch. 4 - Problem 4.21 LO 2, 6, 7 Record transactions and...Ch. 4 - Prob. 4.22PCh. 4 - Prob. 4.23PCh. 4 - Problem 4.24 LO 6. 7 Calculate income from...Ch. 4 - Prob. 4.25PCh. 4 - Prob. 4.26PCh. 4 - Problem 4.27 LO 6. 7 Analyze several accounts...Ch. 4 - Prob. 4.28PCh. 4 - Case 4.29LO 6, 7Capstone analytical review of...Ch. 4 - Prob. 4.30C
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