Hendricks, Inc., has an ending balance in retained earnings on December 31, 2010, of $ 567,432. During 2010 it had declared dividends of $ 100,000 and incurred a net loss of $ 246,700. What was the be-ginning balance in retained earnings on January 1, 2010?
Answer to relevant QuestionsIn 2009 Kieso Enterprises failed to record depreciation expense of $ 30,000. The accountant discovered this error in 2010. Kieso is subject to a 35 percent tax rate. What is the effect of this error on retained earnings? Prepare the long- term asset section of the balance sheet. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation. It has the following accounts in the general ledger. ...Devona Enterprises began fiscal 2010 on January 1 with 1 million shares of common stock authorized and 300,000 shares issued and outstanding. The par value of the common stock is $ 0.50 per share and the additional paid- in ...Linden Company provided the following information: Current assets ..... $ 6,930 Current liabilities ..... 6,413 Liquid assets ...... 2,001 Total assets ....... 25,327 Total liabilities ..... 13,453 Required: A. Calculate ...The following list of accounts was adopted from the 2010 annual report of Gilbert Stores, Inc. Amounts are shown in thousands. Accumulated Depreciation ....... $ 911,996 Additional Paid- In Capital ....... 622,634 Buildings ...
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