The balance in retained earnings on 1 januar 2010

Assignment Help Accounting Basics
Reference no: EM131134420

1. The balance in retained earnings on January 1, 2010, for Persinger Inc, was $800,000. During the year, the corporation paid cash dividends of $90,000 and distributed a stock dividend of $8,000. In addition, the company determined that it had understated its depreciation expense in prior years by $50,000. Net income for 2010 was $120,000. Prepare the retained earnings statement for 2010.

Reference no: EM131134420

Questions Cloud

Fuentes corporation reported net income : Fuentes Corporation reported net income of $152,000, declared dividends on common stock of $50,000, and had an ending balance in retained earnings of $360,000.
Compute the return on common stockholders equity ratio : SUPERVALU, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. The following financial information (in millions) was taken from the company's 2007 annual report.
Job characteristics are believed to have impact on stress : Job characteristics are believed to have an impact on stress and well being at work (Karasek & Theorell, 1990). The demands of the job on the one hand and the extent to which you have control over your own activities (decision latitude) on the other ..
The balance in retained earnings on 1 januar 2010 : The balance in retained earnings on January 1, 2010, for Persinger Inc, was $800,000. During the year, the corporation paid cash dividends of $90,000 and distributed a stock dividend of $8,000.
How do trial judges and appellate judges differ : How do trial judges and appellate judges differ? Pomona hires Tom to renovate her farm house and repair some minor damages for $1000. Tom informs her that it will take him at least 6 months to complete the work. Discuss whether the parties in questio..
Prepare the retained earnings statement for the year : Prepare the retained earnings statement for the year assuming the balance in retained earnings on January 1, 2010, was $220,000.
What is the industry and what is the revenue model : Describe the business (real or imagined) involved thoroughly. What is the industry? What is the revenue model? What is the company's strategic vision and who are the stakeholders? Do they produce goods, services, or both?
The components of stockholders equity : The stockholders' equity section of O'Vear Corporation consists of common stock ($10 par) $2,000,000 and retained earnings $500,000. A 10% stock dividend (20,000 shares) is declared when the market value per share is $14. Show the before and after ef..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd