Prepare a statement of retained earnings for year

Assignment Help Financial Accounting

Reference no: EM13140743

Messer Company had retained earnings at the beginning of the current year of $ 590,000. During the year, the following activities occurred:

• Net income of $ 88,000 was earned.

• A cash dividend of $ 1.20 per share was declared and distributed on the 50,000 shares of com-mon stock outstanding.

Prepare a statement of retained earnings for the year.

Reference no: EM13140743

Questions Cloud

What is the % yield : When 100.g Mg3N2 reacts with 75.0 g H2O, 15.0 g of NH3 is formed. What is the % yield?

Similarities and differences between like and thurstun scale : what are the similarities and differences between like and thurstun scale?

Calculate the homogeneous solution : Compute the homogeneous solution yh(t). Compute the particular solution yp(t).

Find ph of a mixture : Find pH of A mixture formed by adding 44.0 mL of 2.5×10-2M HCl to 150mL of 1.5×10-2 M HI.

Prepare a statement of retained earnings for year : A cash dividend of $ 1.20 per share was declared and distributed on the 50,000 shares of com-mon stock outstanding. Prepare a statement of retained earnings for the year.

What output maximizes the white companys profit : What output maximizes the White Company's profit and what is the White Company's economics profit? Should the White Company continue in business or shut down in the short-run? Why?

Describe your experience of earth : Describe your experience of Earth/space science from when you were a student in primary school. What misconceptions did you have about Earth's place in space?

Interest in continuing the partnership : Barry owns a 25% interest in a continuing partnership. the partnership distributes a $20,000 year-end cash bonus to all the partners. in a proportionate nonliquidating distribution, the partnership also distributed property (basis of $2,000; fair ..

Analyzing internal control : Pacific Company is a rapidly growing start up business. Its bookkeeper, who was hired one year ago-Evaluate Pacific's internal control system and indicate which principles of internal control appear to have been ignored.

User Account

All Pages