Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN: 9781285595047
Author: Weil
Publisher: Cengage
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Company Zeta had retained earnings balance of $4 million in the previous year. In the current year, its net Income is $2.7 million. If it pays $1.1 million in ordinary dividends in the current year, what is the resulting earnings balance?
in the firm's most recent financial statements, newhouse, inc. reported 57 mil usd of ni and 808 mil usd of retained earnings.the previous retained earnings were 779.000 mil usd. how much in dividends were paid to shareholders during the year? assume that all dividends declared were actually paid."
The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:
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The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $825,000. During Year 2, the company purchased trading investments for the first time at a cost of $346,000. In addition, trading investments with a cost of $66,000 were sold at a gain during Year 2. The company paid $65,000 in dividends during Year 2.a. Determine the December 31, Year 2, Retained Earnings balance.b. Provide the December 31, Year 2, balance sheet presentation for Trading Investments.
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- The income statement for Blue Ocean reported net income of $22,400 for the year ended December 31 before considering the following: During the year, the company purchased available-for-sale securities At year end, the fair value of the investment portfolio was $2,100 more than the cost The balance of Retained Earnings was $83,000 on January 1 Blue Ocean paid $9,000 in cash dividends during the year Required : What is the balance of Retained Earnings as of December 31? Calculate it:arrow_forwardIn its most recent financial statements, Del-Castillo Inc. reported $70 millionof net income and $900 million of retained earnings. The previous retainedearnings were $855 million. How much in dividends did the firm pay toshareholders during the year?arrow_forwardJamaica Tours, Inc. started the year with a balance of retained earnings of $1,810 million. The company reported net income for the year of $302 million, paid dividends of $21 million to the preferred stockholders and $61 million to common stockholders. Calculate Jamaica Tour’s end-of-year balance in retained earnings. (Enter your answer in millions of dollars.) Retained earnings millionarrow_forward
- For the year , movers United has net income of $31,800 , net new equity of $7,500 , and an additional to retained earnings of $24,200. What is the amount of dividends paid?arrow_forwardFor Year 1, the Sacramento Corporation had beginning and ending Retained Earnings balances of $157,900 and $210,400 respectively. Also during Year 1, the corporation declared and paid cash dividends of $24,800 and issued stock dividends valued at $15,000. Total expenses were $40,416. Based on this information, what was the amount of total revenue for Year 1? Multiple Choice $145,184 $117,716 $132,716 $133,100arrow_forwardIn its most recent financial statements, Del-Castillo Inc. reported $65 million of net income and $830 million of retained earnings. The previous retained earnings were $785 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar.arrow_forward
- Stosch Company's balance sheet reported assets of $132,000, liabilities of $33,000 and common stock of $30,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $90,000 and Stosch paid a $32,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following?arrow_forwardElectronics World Inc. paid out $22.4 million intotal common dividends and reported $144.7 million of retained earnings at year-end. Theprior year’s retained earnings were $95.5 million. What was the net income? Assume thatall dividends declared were actually paid.arrow_forwardTeleLink reports retained earnings at the end of the current year of $32,598 million and retained earnings at the end of the previous year of $30,091 million. The company reported dividends of $3,940 million and other transactions with shareholders that reduced retained earnings during the current year by $1,806 million.How much net income did the firm report in the current year? And is it income or loss?arrow_forward
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