Computation of retained earnings

Reference no: EM1319581

During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006.

Reference no: EM1319581

Questions Cloud

Classifying items into financing : For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:

Latest equilibrium price also quantity to result : Converse the latest equilibrium price also quantity to result from these changes.

Esmitating the output of the given code : State the output of following statements? cout

Confidence interval of the mean head circumference : Determine a 90% confidence interval estimate of the mean head circumference of all two-month-old babies.

Computation of retained earnings : During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.

Number of firms in market affect each firms demand curve : Elucidate how does N the number of firms in the market, affect each firms Demand curve. Explain why.

Computing net income-expenses incurred : Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.

Determining the output : Specify the output if input is diamond diamond? State the output if the input is diamond gold?

Probability related to normal distribution : The airline must sell 150 seats to break even on this particular flight. On what percent of the flights does the airline make money?

User Account

All Pages