Idea, Inc., had $375,000 of retained earnings at the beginning of the year and a balance of
Question:
Idea, Inc., had $375,000 of retained earnings at the beginning of the year and a balance of $590,000 at the end of the year. Net income for the year was $320,000. What caused the change in the retained earnings balance? Other than net income, how would any change in retained earnings be shown on the statement of cash flows?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (17 reviews)
The declaration of dividends decreases Retained Earnings Cash d...View the full answer
Answered By
David Muchemi
I am a professional academic writer with considerable experience in writing business and economic related papers. I have been writing for my clients who reach out to me personally after being recommended to me by satisfied clients.
I have the English language prowess, no grammatical and spelling errors can be found in my work. I double-check for such mistakes before submitting my papers.
I deliver finished work within the stipulated time and without fail. I am a good researcher on any topic especially those perceived to be tough.
I am ready to work on your papers and ensure you receive the highest quality you are looking for. Please hire me to offer my readily available quality service.
Best regards,
4.60+
27+ Reviews
61+ Question Solved
Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
Question Posted:
Students also viewed these Managerial Accounting questions
-
Supply, Inc., had $125,000 of retained earnings at the beginning of the year and a balance of $150,000 at the end of the year. Net income for the year was $80,000. What caused the change in the...
-
Gordon Corporation had $102,000 of retained earnings at the beginning of the year. It had $87,000 of financial accounting income and paid $45,000 in dividends. What is the corporation's ending...
-
A companys net income for the year was $17,000. During the year, the company paid dividends on its non-cumulative preferred shares amounting to $12,000. Calculate the amount of the years net income...
-
Describe the process of testing software developed using both top-down and bottom-up development order. Which method results in the fewest resources required for testing? What types of errors are...
-
The Green and Ampt infiltration equation is a loss function used to compute the cumulative infiltration, F (cm) for a given infiltration rate, f(cm/hr). Recall that, f = Ks - (l - (M-wf)/F). For the...
-
Air enters the pipe at A at the rate of 6 kg/s under a pressure of 1400 kPa gage and leaves the whistle at atmospheric pressure through the opening at B. The entering velocity of the air at A is 45...
-
What are the key macroeconomic objectives of government? Are there likely to be any conflicts between them?
-
The city of Glendale borrows $48 million by issuing municipal bonds to help build the Arizona Cardinals football stadium. It plans to set up a sinking fund that will repay the loan at the end of 10...
-
15 4) Consider the following molecule and draw (looking down the C1-C2 bond): a) The staggered conformation(s) of lowest energy (4 pts) b) The staggered conformation(s) of highest energy (4 pts) a)...
-
The Shop at Home Network sells various household goods during live television broadcasts. The company owns several warehouses to hold many of the goods it sells, but also leases extra warehouse space...
-
The comparative balance sheets for JayCee Company showed the following changes in current asset accounts: accounts receivable decreased by $50,000, prepaid expenses decreased by $23,000, and...
-
For each of the following items, tell whether it is a cash inflow or cash outflow and the section of the statement of cash flows in which the item would appear. (Assume the direct method isused.)...
-
Evaluate the definite integral using the values below. -6 "6 [~ dx = 320, [x dx = 16, [*dx = 4 2 2
-
A slender, 100- g bar magnet 15.0 cm long has a magnetic moment of 6.00 A m2. It is held at an angle of 45 o to the direction of a uniform magnetic field. When released, it begins to rotate about its...
-
Indicates how much shareholders have invested in a company.
-
Describe the role of restriction enzymes in prokaryotes and provide examples.
-
A balloon is inflated with helium to 1.42 atm at 25.3C. When you go outside with the balloon the temperature decreases to 12.6C. What is the final pressure of the helium in the balloon when outside?...
-
The ability to dynamically add additional resources on demand such as storage, CPUs, memory, and even servers is referred to as what? This type of question contains radio buttons and checkboxes for...
-
A well-dispersed mixture of solids and liquid is to be concentrated by being pumped through a tank with a porous plate at the bottom through which pure liquid may pass, as shown schematically in...
-
The Ranch 888 Noodle Company sells two types of dried noodles:ramen, at $6.50 per box, and chow fun, at $7.70 per box. So farthis year, the company has sold a total of 110,096 boxes ofnoodles,...
-
When is information for one user either useful or required by another user?
-
Explain the problems associated with inappropriate practices.
-
Explain the purpose of the Public Company Board.
-
Why is an independent audit committee to a company?
-
Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering...
-
1. In his job, Martin is handed several bricks. He carries them across a yard and hands them to a bricklayer. He thinks he works hard, but his sister tells him that he does not work on the bricks....
-
12-19. A train starts from rest at station A and accelerates at 0.5 m/s for 60 s. Afterwards it travels with a constant velocity for 15 min. It then decelerates at 1 m/s until it is brought to rest...
Study smarter with the SolutionInn App