Below are the restated amounts of net income and retained earnings for Volunteers inc. and Raiders...
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Below are the restated amounts of net income and retained earnings for Volunteers inc. and Raiders inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earler, Required: Calculate the balance of retained eamings each year for each company. Neither company paid dividends during this time. (Enter your answers in milions (Le., 10,000,000 should be entered as 10).) VOLUNTEERS INC. RAIDERS INC. (S in milions) (S in milions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings 35 $ Yoar 2009 11 2010 10 (63) 2011 (5) 60 2012 21 43 2013 115 82 2014 10 115 2015 (151) (62) 2016 557 54 2017 339 90 2018 340 142 Below are the restated amounts of net income and retained earnings for Volunteers inc. and Raiders inc. for the period 2009-2018. Volunteers began operations in 2010, while Raiders began several years earler, Required: Calculate the balance of retained eamings each year for each company. Neither company paid dividends during this time. (Enter your answers in milions (Le., 10,000,000 should be entered as 10).) VOLUNTEERS INC. RAIDERS INC. (S in milions) (S in milions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings 35 $ Yoar 2009 11 2010 10 (63) 2011 (5) 60 2012 21 43 2013 115 82 2014 10 115 2015 (151) (62) 2016 557 54 2017 339 90 2018 340 142
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Related Book For
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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