Question: Idea Inc had 375 000 of retained earnings at the beginning
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?
Relevant QuestionsFor 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.)Use the information given for Very Heavenly Desserts, Inc., to calculate the following:a. Cash paid for salariesb. Cash paid for income taxesc. Cash paid for inventory itemsd. Cash collected from customerse. Cash proceeds ...During the fiscal year ended March 31, 2009, Fins & Feathers Pet Company engaged in the following transactions:a. Collected $125,000 on accounts receivableb. Paid interest of $5,000c. Made cash sales of $225,000d. Paid ...Use the information given for Pro Consultants, Inc., to calculate the following:a. Cash paid for utilitiesb. Cash paid for interestc. Cash paid for inventory itemsd. Cash collected from customerse. Cash proceeds from ...The following information was taken from the most recent statement of cash flows of Innovative Electronics Company:Net cash provided by operating activities ....... $ 845,000Net cash used by investing activities ....... $ ...
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