On January 1, 2010, Harrison Corporation started the year with a $422,000 balance in retained earnings. During 2010, the company earned net income of $130,000 and declared and paid dividends of $20,000. Also, the company received cash of $450,000 from a new issue of common stock. What is the balance in retained earnings on December 31, 2010?
Answer to relevant QuestionsBaltimore Manufacturing, Inc., had net income for 2010 of $58,280. During the fiscal year, which began on January 1, 2010, the company declared and paid dividends of $5,500. On the balance sheet at December 31, 2010, the ...Athletic Endurance Company had the following stockholders’ equity section on the December 31, 2010, balance sheet:Preferred stock, 6%, $120 par, cumulative ........ $1,170,000Common stock, $1.50 par value ............ ...The following account balances can be found in the general ledger of Zebra Enterprises at year end. Prepare the shareholders’ equity section of the balance sheet.Retained earnings .........................$ 650,000Treasury ...Minute Magazine Publications, Inc., is authorized to issue both preferred and common stock. Minute Magazine’s preferred stock is $155 par, 10% preferred stock. During the first month of operations, the company engaged in ...Runnels Geometric Designs Company was started on January 1, 2009. The company is authorized to issue 50,000 shares of 8%, $105 par value preferred stock and 600,000 shares of common stock with a par value of $2 per share. ...
Post your question