Question: Return to the Oak Research Inc. (ORI) data in Starter 14-13. ORI ended 2013 with $20,000 in common shares and $15,000 in $0.50 preferred shares.

Return to the Oak Research Inc. (ORI) data in Starter 14-13. ORI ended 2013 with $20,000 in common shares and $15,000 in $0.50 preferred shares. No shares were sold or repurchased during 2014. Create ORI's statement of shareholders' equity for the year ended December 31, 2014

Data From 14-13

Oak Research Inc. (ORI) ended 2013 with Retained Earnings of $37,500.
During 2014, ORI earned net income of $40,000 and declared dividends of $15,000. Also during 2014, ORI got a $12,000 tax refund from Canada Revenue Agency. A tax audit revealed that ORI in error paid too much income tax in 2012.
Prepare ORI’s statement of retained earnings for the year ended December 31, 2014, to report the correction of the prior-period error.

Step by Step Solution

★★★★★

3.33 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Oak Research Inc Statement of Shareholders Equity For the Year Ended ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1147-B-A-C(1274).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Soru: Aadaki taral blgenin alan merkezinin x ve y eksenlerindeki koordinatlarn bulunuz. Cevabnz a ve b cinsinden bir ifade ile belirtiniz. y x=ky 02 32 22 32 I

Return to the Oak Research Inc. (ORI) data in Starter 14-15. ORI ended 2016 with $20,000 in common shares and $15,000 in $0.50 preferred shares. No shares were sold or repurchased during 2017. Create...

Oak Research Inc. (ORI) ended 2016 with Retained Earnings of $37,500. During 2017 ORI earned net income of $40,000 and declared dividends of $15,000. Also during 2017 ORI got a $12,000 tax refund...

when you answer this please put in bold the correct answers for each blank. The previous answer i got for this only had (A3) correct and i only have one more attempt to plug in the answers. The rest...

Could anyone can help me to figure out this project ? Your assistance would be helpful. thank you . CPA : ACCOUNTANTS\\ PREP Intermediate Financial Reporting ! Project 1 1 40 marks ) Millwork Inc. is...

Hi please read the attachments There is two company. 1) Amazon vs 2) Bestbuy You will only work on Section 3 , 4 , 6. Annual Report 10k , Financial statement , Ethical issue & conclusion. I want...

Financial Statement Analysis I need to Update the report in the Word document for years 2011-2015. so delete any info for 2010 and add the info for 2015 with the explanations for the ratios and...

Summarize the economic outlook for your industry. Look at recent market activity, recent indicators impacting your industry. Address recent change in stock prices. See the Analysis Tab of the FSAPfor...

Marker Motion Instruction is here, I have attached some photos. Just wanted to know what percentage of Allocation segmentation, list price, sales budget, Marketing budget, development budget etc...

Question 1: (CLO 2, PLO 2) The shown assembly consisting of a cylindrical shaft supported by journal bearings at A and B is under an applied couple of 50 N.m. Determine: (50 marks) The force...

Multiple Choice Question Costs of assets acquired in one period that will be recorded as expense in a future period are referred to as: Multiple choice question. prepaid expenses and are initially...

1) (15 pts) A dataset consists of two classes, whose distributions are assumed Gaussian, and whose sample covariances and means are the following: Ho = C (2 0 0 2 C = Calculate the LDA projection...

B= 30 x 10 -4 A/V 2 , V THp = -1V . So calculate I DQ and V SDQ and draw DC line. Aadaki devre iin B = 30 x 104 A /V?, VTHP = -1 V olduuna gre Ioa ve VsDa deerlerini bulun, DC yk hattn izin. V1 12 V...

A planar EM wave comes from one medium with a dielectric constant in the normal direction to another medium with a dielectric constant Both media are magnetic and non-conductive material medium. The...

An investment banker says, I dont worry about detailed, long-term forecasts. Instead, I use the following approach when forecasting cash flows beyond three years: I assume that sales grow at the rate...

Ethical Conduct. Unable to pay more than $1.2 billion in debt, Big Rivers Electric Corp. filed a petition to declare bankruptcy in a federal bankruptcy court in September 1996. Big Rivers creditors...

Economics The following data table relates to the supply schedule of a product. Quantity Supplied Price ($ Per Unit) ( Units Per Week) 5 100 10 200 15 250 20 300 25 350 30 500 Over which of the...

IN PYTHON Write a function named "loadStateDict(filename) that takes a filename and returns a dictionary of 2-character state codes and state names. The file has four columns and they are separated...

Hercules Exercise Equipment Co. purchased a computerized measuring device two years ago for $58,000. The equipment falls into the five-year category for MACRS depreciation and can currently be sold...