Determine the retained earnings ending balance. O s29,099 O s3,13S $13,306 O s11.840
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- The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,047 Accounts Receivable 2,331 Prepaid Expenses 702 Equipment 15,735 Accumulated Depreciation 10,181 Accounts Payable 1,725 Notes Payable 4,555 Common Stock 1,000 Retained Earnings 3,324 Dividends 885 Fees Earned 7,575 Wages Expense 2,271 Rent Expense 729 Utilities Expense 355 Depreciation Expense 186 Miscellaneous Expense 119 Totals 28,360 28,360 Determine the retained earnings ending balance. Oa. $6,354 Time Remaining: 1:48:17 All work saved. MacBook Pre esc 80 000 D00 F1 F2 F3 F4 F5 F6 %24 # 3What should be the balances on the revaluation surplus and retained earnings after the restatement in accordance with PAS 29? Revaluation surplus – 100; Retained earnings – 400 Revaluation surplus – 350; Retained earnings – 150 Revaluation surplus – 500; Retained earnings – Zero Revaluation surplus – Zero; Retained earnings – 500The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…
- Simple Accounting – Balance Sheet. Assets Liabilities Shareholders' Equity $567,005.00 $389,055.00 O a. $567,005.00 O b. $389,055.00 O c. $177,950.00 O d. $744,955.00How is the year-end balance of the NCI in Net Income (NCINI) account calculated? O A) NC1% of S's book/reported net income - NCI's % of Amort of Differential. B) NCI% of S's book/reported net income - NCI's % of Amort of Differential - NCI's% of S's dividends. C) NCI% of S's book/reported net income + NCI's % of Amort of Differential. D) NC1% of S's book/reported net income - NCI's % of Amort of Differential + NCI's% of S's dividends.Liquid Company has the following information available at year end 2018: Cash Notes payable (current) P40,000 Common stock P140,000 P500,000 Gross income Plant and Equipment, net Total assets P60,000 P252,000 P480,000 Additional data: Current ratio 1.9:1.0 Debt-to-equity Inventory turnover based on (Sales divide by ending inventory) Inventory turnover based on (Cost of sales divide by ending inventory) 1.4:1.0 15 times 10 times
- On 30 April 20X2, Marc Company purchased 4,800 shares of Spencer Ltd. for $29 per share plus $480 in commission. In 20X2, the company received a $0.80 per share dividend, and the shares had a fair value of $24 per share at the end of the year. In 20X3, the dividend was $1.60 per share, and the fair value was $33 per share at the end of the year. In 20X4, the shares were sold for $32 per share less a $600 commission. Required: 1. Show the amounts and accounts that would be reported in earnings and the statement of financial position for 20X2, 20X3, and 20X4 if the company uses the: (Negative amounts should be indicated by minus sign.) a. Cost method. Earnings Dividend revenue Fees and commissions Gain on sale Statement of financial position Investment OCI: Holding gain/(loss) S S $ 20x2 20X3 3,849 $ 7,680 0 $ 0 S 0 0 0 $ 139,680 $ 139,680 $ 0 $ S $ 20X4 0 0 14,520 X 0 0Compute total income from the following? Gross Profit OMR 15000, Rent Paid OMR 3000, Commission received OMR 4000 and Dividend received OMR 2000. O a. OMR 21000 O b. OMR 24000 Activa Go to O c. OMR 19000 O d. OMR 18000 93°FThe financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021, prior to the business combination whereby Campbell acquired Newton, are as follows (in thousands): Campbell $2,600 Newton Revenues $ 700 Expenses 1,880 400 Net income 720 $ 300 Retained earnings, 1/1 $2,400 $ 500 Net income 720 300 Dividends (270) Retained earning, 12/31 $2,850 2$ 800 Cash $ 240 $ 230 Receivables and inventory Buildings (net) Equipment (net) 1,200 360 2,700 650 2,100 1,300 Total assets $6,240 $2,540 Liabilities $1,500 $ 720 Common stock 1,080 400 Additional paid-in capital Retained earnings 810 620 2,850 800 Total liabilities & stockholders' equity $6,240 $2,540 On December 31, 2021, Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton's common stock. At the time of the transaction, Campbell's common stock had a fair value of $40 per share. In connection with the…
- Which of the following is a measurement of earnings that represents the profit before interest, taxes, depreciation and amortization are subtracted? A. net income B. retained earnings C. EBITDA D. EPS7. What amount of consolidated retained earnings will be reported? A.P 295,000 C. P 232,000B. P 268,000 D. P 205,0008. What amount of stockholders; equity will be reported?A. P 355,000 C. P 419,500B. P 397,000What is the effect of the foregoing errors on retained earnings at December 31, 2011?A. P 22,000 overstatedB. P 38,000 understatedC. P 67,000 overstatedD. P 82,000 overstated