If a company had a beginning retained earnings balance of $100,000, net income for the year of

Fantastic news! We've Found the answer you've been seeking!

Question:

If a company had a beginning retained earnings balance of $100,000, net income for the year of $20,000, and paid dividends of $5,000, what would the ending retained earnings balance be?

Related Book For answer-question

Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

See More Books

Posted Date: Jan 16, 2021 04:42 AM

See More Questions

The Doyle Trust reports distributable net income for the year of $100,000 and no income from tax-exempt sources. Under the terms of the trust instrument, the trustee must distribute $20,000 to Roger...
Walmart has made several changes in its data communication systems to improve its suppliers access to sales and inventory data. For example, the company added a customized Web site for its suppliers,...
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...
Instructions In simplified form, you are going to be producing a script. The script will create 2 tables, load the 2 tables with data and then using PL/SQL it will process those 2 tables and with 2...
Can a company choose the fair value option for any long- term financial liability under IFRS? Explain.
Emma Doyle is employed as a corporate attorney. For calendar year 2017, she had AGI of $100,000 and paid the following medical expenses: Medical insurance premiums...
You have audited the financial statements of the Heft Company, a December 31 year end client, for several years. The interim phase of the engagement, completed on August 31, included confirming...
VIP Limo Service was organized to provide limousine service between the airport and various suburban locations. It has just completed its second year of business. Its trial balance is below. The...
Trying to be safe while using a smartphone is like trying tokeep water out of a submarine with a screen door. Discuss thiscomment, particularly referencing the Denver Post article
Automotive Interiors (AI) manufactures seats for automobiles, vans, trucks, and boats. The company has a number of plants, including the Woodstock Cover Plant, which makes seat covers. Bill Rice is...
What is Kindle Fire - a tablet or something else? Who should Amazon target with the Kindle Fire - which customer segments are most promising and how would they use the product? How should the Kindle...
Some financial institutions pay daily interest, compounded by the 360/365 method, using the following formula. r 365t A = A (1 1 + 360 (t is in years) Using this method, what will an initial...
Given the data answer the question. Given: EBIT $300,000 interest expense $70,000 revenues taxes $600,000 $50,000 What is the net profit margin?
In a lake, a population of fish displays variations in mating behaviors. Some individuals within the population prefer different courtship rituals, leading to reproductive isolation. What type of...
The transactions listed below are typical of those involving New Books Incorporated and Readers' Corner. New Books is a wholesale merchandiser and Readers' Corner is a retail merchandiser. Assume all...
Bluegill Company sells 16,200 units at $100 per unit. Fixed costs are $81,000, and operating income is $729,000. Determine the (a) variable cost per unit, (b) unit contribution margin, and (c)...
A food company wants to produce brownies, bread and martabak dough to sell to other companies. The 3 main ingredients in each product are flour, eggs, and water. If the company only has 63 Kg of...
1) Predict the organicproduct formed when BzCl reacts with cyclohexanol. BzCl = benzoylchloride. 2) Provide the majororganic product of the reaction below. 3) Draw the structureof the product formed...
Following are three separate events affecting the managerial accounting systems for different companies. Match the management concept(s) that the company is likely to adopt for the event identified....
Adriana Lopez is considering the purchase of equipment for Success Systems that would allow the company to add a new product to its computer furniture line. The equipment is expected to cost $300,000...
Assume that Amey and Lacey are partners. Lacey dies, and her son claims the right to take his mothers place in the partnership. Does he have this right? Why or why not?
Two consortia of leading North American and European apparel retailers, the Alliance for Bangladesh Worker Safety and the Accord on Fire and Building Safety in Bangladesh, have pledged to provide...
Are the ethics of gift-giving different between high context and low-context cultures?
What is the cause of the safety issues plaguing Bangladesh textile factories? The garment industry has played a critical role in promoting the economic development of Bangladesh, a nation of 165...

If a company had a beginning retained earnings balance of $100,000, net income for the year of

Question:

Expert Answer:

Ending balance in retained earning ... View the full answer

Managerial Accounting

Students also viewed these accounting questions