Selected information from the accounts of Arch Inc. on December 31, 2021 reveals that the total income since incorporation is $42,000; the total cash dividends paid is $13,000; the total value of property dividends distributed is $3,000; and the excess of proceeds over cost of treasury shares sold is $11,000. In its December 31, 2021 statement of changes in equity, what amount should the firm report as accumulated profits (retained earnings)?

Q: For the year ending December 31, 2020, Oriole Inc. reports net income $142,000 and cash dividends…

A: Retained Earning:  Retained Earning are the undistributed income that belongs to the owner of the…

Q: At the beginning of 2024, Norton Academy reported a balance in common stock of $168,000 and a…

A: Common Stock : Ending balance = Beginning balance + Issuance of common stock Retained earnings :…

Q: Jamison Corp.'s information relating to 2021 activities are presented below. - Net income for 2021…

A: Analysis of Activities of above Transactions: 1. Net Income : This is treated in Cash Flow as…

Q: On January 1, 2020, Anderson Corporation had retained earnings of $400,000. During 2020, Anderson…

A: Ending retained earnings = Beginning retained earnings + Net income - Dividends

Q: Zoo Company began operations on January 1, 2024 with a P1,500,000 from the issuance of shares and…

A: >Accounting Equation forms the basis of double entry accounting system, >It says that Total…

Q: On J anuary 1, 2019, Castillo Company had a retained earnings balance of $206,000. During the year,…

A: Solution Retained earning are the amount of profit a company has left over after paying all its…

Q: WHITE Company began operations on January 1, 2021 with P1,000,000 from the issuance of shares and…

A: We know; as per accounting equation- Total Liabilities + Shareholders' equity = Total Assets

Q: On December 31, 2020, the balance sheet of Legend Corporation shows a total equity of P1,260,000.…

A: Retained Earning at the end of the year = Current Retained Earnings + Profit/Loss – Dividends

Q: A company has current assets of $608,000 and current liabilities of $245,000. The board of directors…

A: Current ratio: = Current assets ÷ current liabilities   •Current assets : $608,000 •Current…

Q: The balance in the retained earnings of HAWKEYE Corporation on December 31, 2020 and 2021…

A: Ending retained earnings = Beginning retained earnings + Net income during the year - Stock dividend…

Q: The parent company of SPI-K, ABCd Group Inc. reported the following information in its financial…

A: Earnings per share = Net Income available for Stockholder's equityNo. of outstanding common shares…

Q: On January 1, 2020, Cave Corporation had retained earnings of $7,900,000. During 2020, Cave reported…

A: Retained earnings is the part of net income which is retained by the entity and not paid as…

Q: The following information was taken from the accounting records of ATLANTA Company for the year…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: The following information and transactions took place during 2019, perform and explain the question…

A: Journal entries refer to the classification and recording of daily transactions in the books of…

Q: At the beginning of 2020, Tucker Corporation had assets of $350,000 and liabilities of $175,000. At…

A: Assets = Liabilities + Shareholders' Equity

Q: At the beginning of 2021, Artichoke Academy reported a balance in common stock of $150,000 and a…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: On 12/31/18, Hairs Industries Inc. reported retained earnings of $675,000 on its balance sheet, and…

A: The dividend is paid from the profits earned during the year.

Q: For the year ending December 31, 2022, Sheridan Inc reports net income Ss147,000 and cash dividends…

A: Retained earnings: Retained earnings is the accumulation of the profit earned by the organization…

Q: On 12/31/18, Hite Industries reported retained earnings of $475,000 on its balance sheet, and it…

A: Closing Retained Earnings = Opening Retained Earnings + Net Income during the year - Dividends paid…

Q: Selected information from the accounts of Colossians Co. at December 31, 2021 reveals that the…

A: Statement of Changes in Equity: Equity is one of the elements of the accounting equation, where,…

Q: Cooper Industries, Inc., began 2021 with retained earnings of $25.11 million. During the year it…

A: Solution:- Preparation of Statement of Retained Earnings For the year ended 31,2021 as follows…

Q: At the end of 2021, PT. Wardah International announced a gross profit of $1 million. The costs…

A: earnings available for common stockholders = Net income  - preferred Dividend

Q: For the year ending December 31, 2022, Sheridan Inc. reports net income $147,000 and cash dividends…

A: Formula: Ending Retained earnings balance = Beginning retained earnings + Net income - Dividends…

Q: elected information from the accounts of Colossians Co. at December 31, 2021 reveals that the total…

A: Retained earning means amount of profit remain after all the adjustment of expense and adjustments.…

Q: The total income since incorporation is P420,000. The total cash dividends paid is P130,000. The…

A: Retained earnings or accumulated profit is the shareholder's equity component which states the…

Q: The following are the amounts of Care Corporation’s assets and liabilities at May 31, 2010 and its…

A: Mandatory financial statements are:  Income statement Statement of financial position or balance…

Q: Prince Corporation's accounts provided the following information at December 31, 2019:   Total…

A: Retained earning means the amount of profit that has not been distributed to shareholder as divided.…

Q: The parent company of SPI-K, ABCd Group Inc. reported the following information in its financial…

A: Earning Per Share =Net Income available for Stockholder's equity   No. of outstanding common shares…

Q: in the firm's most recent financial statements, newhouse, inc. reported 57 mil usd of ni and 808 mil…

A: Let's say, RE represents retained earning, NI represents net income and D represents dividends…

Q: For the year ending December 31, 2022, Sheridan Inc. reports net income $147,000 and cash dividends…

A: Retained earnings is the balance of net income which is left after paying dividend to the…

Q: Goliath Company purchased an equipment on January 2, 2017 for P3,000,000. At the date of…

A: The cost of the equipment purchased on January 2,2017=3,000,000 and the equipment is being…

Q: 1.- Prepare the income statement of the company and calculate the net income obtained in 2021 2.-…

A: Particulars  Amount ($) Income from continuing activities after taxes  877,000 Add:…

Q: On January 1, 2022, Sheridan Company had retained earnings of $527,000. During the year, Sheridan…

A: Ending retained earnings balance = Beginning retained earnings balance + Net income - total dividend

Q: Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude…

A: The question is related to Journal Entries in the Books of Brenner-Jude for the year ended December…

Q: The following information is available for Sunland Corporation for the year ended December 31, 2022:…

A: An income statement is one of the financial statements of a company that represents the income and…

Q: For the year, the Bridgewater Co. has net income of $27,400, net new equity of $12,000, and an…

A: Dividend is paid out of net income and income remaining after the dividend is added to retained…

Q: In its most recent financial statements, Nessler Inc. reported $75 million of net income and $825…

A: Given: Beginning retained earnings $784 million Net income $75 million Ending retained earnings $825…

Q: Selected infomation from the accounts of Colossians Co. at December 31, 2021 reveals that the total…

A: Retained Earnings:- Retained earnings are a part of firm’s profit that is not distributed to the…

Q: What is the current ratio after the declaration but before payment? What is the current ratio after…

A: Current Ratio = Current Assets / Current Liabilities Current Assets = $616000 Current Liabilities =…

Q: Silver Spoon Antiques had balances in common stock of $10,450 million and $10,675 million, for 2018…

A: Given: Cash flow to shareholders is $400,000  Common Stock in 2019 = $10,675,000  Common Stock in…

Q: How much in dividends were paid to shareholders during the year? Assume that In its most recent…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The Retained Earnings for Blanka Corporation at January 1, 2021 were $250,000. The corporation had…

A: Retained earnings is the term that represents the profits accumulated by the entity that are not…

Q: Grant Inc. reported retained earnings of $287,000 on its balance sheet on 12/31/2020, and it had…

A: Closing retained earnings = Opening retained earnings + Net income for the year - Dividends paid…

Q: The following information is available for Wildhorse Corporation for the year ended December 31,…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: At the beginning of its fiscal year on April 1, 2018, Extra Vienna Oil Corp, had a balance of…

A: Retained earnings (RE) is the amount of net income left over for the business after it has paid out…

Q: The following information pertains to MNA Corporation for the year ended December 31, 2020:…

A:

Q: The company reported total assets of P2,100,000 and total liabilities of P1,360,000 in its December…

A: Stockholders’ Equity on December 31, 2020 = total assets- total liabilities = P2,100,000 -…

Q: At the beginning of the current year, Callifax Corporationhad dividends payable of $1,500,000.…

A: Cash dividends paid during this year = Beginning dividends payable + cash dividends declared -…

Q: Colossians Co. at December 31, 2021 reveals that the total income since incorporation is P420,000;…

A: Retained earnings or accumulated profit is the shareholder's equity component which states the…

Q: The total assets and the total liabilities of a Kahn Jazz, Inc., at the beginning and at the end of…

A: The accounting equation states that assets equal to sum of liabilities and owners' equity.

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.