Balance sheet total for retained earnings

Assignment Help Accounting Basics
Reference no: EM13131610

A for-profit nursing home has beginning-of-period retained earnings of $40,000. Net income for the period totals $75,000 and dividends declared during the period total $15,000. The balance sheet total for retained earnings will be what amount?

a) $100,000

b) $ 90,000

c) $ 75,000

d) $130,000

e) None of the above

Reference no: EM13131610

Questions Cloud

Find probability to replace or exchange defective item : The manufacturer has to replace or exchange 10% of its model I and 18% of its model II. If a model is selected at random, find the probability that it will be defective?
Acquisition cost of the equipment : The depreciation applicable to this equipment was $70,000 for 2008, computed under the sum-of-the-years'-digits method. What was the acquisition cost of the equipment?
Explain acid and base organic chemistry : Methyl benzoate - Acid and Base Organic Chemistry, In preparation of methyl benzoate, what is the purpose of 1. washing the organic layer with sodium bicarbonate solution?
Calculate dg for the reaction : Calculate ΔG for the reaction if the partial pressures of the initial mixture are PPCl5 = 0.0029 atm, PPCl3 = 0.27 atm, and PCl2 = 0.40 atm PCl5(g)--> PCl3(g) + Cl2(g)
Balance sheet total for retained earnings : A for-profit nursing home has beginning-of-period retained earnings of $40,000. Net income for the period totals $75,000 and dividends declared during the period total $15,000. The balance sheet total for retained earnings will be what amount?
Conduct an e-mail interview : Conduct an e-mail interview within a small sample of people you know (about 10) regarding the changes in romantic relationships due to the presence of the Internet. make up a questionnaire of 3-5 questions and record the answers.
What volume of 0.45 m hcl solution would be needed : For the reaction 2HCl+Na2CO3 →2NaCl+H2O+CO2 what volume of 0.45 M HCl solution would be needed to produce 2.5 L of CO2 at STP?
Calculate the pressure of the gas inside the cylinder : a cylinder measuring 3.4 cm wide and 4.0 cm high is filled with gas. The piston is pushed down with a steady force measured to be 275 kpa
Find probability to visit both you and your neighbor bill : The traveling salesperson randomly selects 5 apartments in your building to visit. What is the probability that she visits both you and your neighbor bill?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Compensating nonprofit board members

Often Board and other committee volunteers for nonprofit organizaations are compensated for expenses during travel and meetings. Some think that this attracts volunteers for the wrong reasons.

  Earning and stock returns

Earnings announcements by companies are closely followed by, and frequently result in, share price revisions. Two issues should come to mind. First, earnings announcements concern past periods, If the market values stocks based on expectations of ..

  How might this approach encourage poor business decisions

Explain why it might make sense for this company to award bonuses based on sales growth. How might this approach encourage poor business decisions when compared to a bonus plan tied to earnings?

  Identify which segments are significant enough

Identify which segments are significant enough to warrant disclosure in accordance with FASB No. 131, "Reporting Disaggregated Information about a Business Enterprise," by applying the following quantitative tests:

  Consolidation-journal entries

On January 1, 2007, the stockholders of Phillips and Solina agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquirer-Prepare the journal entries on the books of Phillips to record t..

  Aaccrual basis accounting

Publicly traded firms are required to report to the investors using an accrual not a cash-basis approach. Do you think they should? What are the advantages? The drawbacks?

  Softball team as a form of advertising

A new employee suggests that RedEx sponsor a company softball team as a form of advertising. The cost to sponsor the team is $1,792. How many more units must be sold to cover this cost?

  Governmental accounting and interest expenditure

It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?

  Portion of unrealized intercorporate profit

What portion of the unrealized intercorporate profit is eliminated in a downstream sale? In an upstream sale? Explain.

  Prepare the entry or entries related to the machine

Quigley co. bought a machine in January 1, 2009 for $875,000. It had a $75,000 estimated residual value and ten year life. The repairs and maintance expense account was incorrectly debited on the purchase date. Quigley uses straight-line depreciat..

  What is the effect on the free cash flows for 2005

Now FASB required that all employee stock options should be expensed on income statement. On Jan. 2005, AA company granted total $100,000 (fair value) of stock options to the employee.

  Income statements and financial performance of company

What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years?

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