What amount should houston report as retained earnings

Assignment Help Accounting Basics

Reference no: EM133608067

Question: The shareholders' equity section of Houston Corp. at December 31, Y3 was: Common shares, no par value; authorized 20,000 shares; issued and outstanding 10,000 shares $50,000 Retained earnings 200,000 $250,000 On February 28, Y4, when the market value of Houston's shares was $ 12 per share, the board of directors declared a 15% stock dividend, and accordingly 1,500 additional shares were issued. For the two months ended February 28, Y4, Houston reported a net loss of $ 20,000. What amount should Houston report as retained earnings at February 28, Y4?

Reference no: EM133608067

Questions Cloud

Discuss the deductibility of the items in each of the cases : Discuss the deductibility of the items in each of the following cases, mentioning any relevant sections and citing all pertinent case law.

Calculate the net income of the nadine family trust : Calculate the net income of the Nadine Family Trust for this income year. Advise Nadine as to how she can distribute the net income in most tax-effective way.

How much will cory owe for this encounter : Cory Allen's insurance was billed $150.00 and the participating insurance allowed $125.00. Cory has a 90/10 co-insurance, so how much will Cory owe

How much will tammy owe for the visit : deductible and the PAR insurance allowed amount is $125.00 for last month's office visit. How much will Tammy owe for the visit

What amount should houston report as retained earnings : For the two months ended February 28, Y4, Houston reported a net loss of $ 20,000. What amount should Houston report as retained earnings at February 28, Y4

Calculate grossed up taxable value of each fringe benefit : Calculate the grossed up taxable value of each fringe benefit provided, and the total fringe benefits tax liability.

How many would you expect to pay with a debit : If next week, he is expecting 1500 customers, about how many would you expect to pay with a debit

Claim a higher current deduction for losses : Claim a higher current deduction for losses is to: (1) take withdrawals from the activity and (2) reduce the activity's recourse debt, thereby reducing

Recommend estate planning strategy consistent with tax codes : Recommend estate planning strategies consistent with tax codes and regulations for the purpose of reducing the taxable estate.

User Account

All Pages