User Account

All Pages

What is the balance of retained earnings

Assignment Help Accounting Basics
Reference no: EM131660594

Question - House Audio Shop is a retailer of high quality audio equipment. It is currently the end of May 2013. The company's retained earnings balance as of May 1, 2013 was $56,000. During May, House Audio Shop earned $10,000 in revenue and incurred $7,500 in expenses. On May 30, 2013, the company declared and paid dividends in the amount of $3,500. What is the balance of retained earnings as at May 31, 2013?

Do not enter dollar signs or commas in the input boxes.

Reference no: EM131660594

Questions Cloud

Achieve a positive operating ratio : What must be the minimum yield on investments to achieve a positive operating ratio?
One method for conceptualizing alternative strategic : One method for conceptualizing alternative strategic opportunities is through the use of strategic opportunity matrix.
Explain the relevance of your key topic to gods law : Compare your research with what you have studied during the module/week in which the key topic/thread is assigned.
Describe a significant nursing clinical issue : Describe a Significant Nursing Clinical Issue, nursing clinical issue that you would like to search for evidence in online sources
What is the balance of retained earnings : On May 30, 2013, the company declared and paid dividends in the amount of $3,500. What is the balance of retained earnings as at May 31, 2013
Initial value of a forward contract : Prove the initial value of a forward contract at the beginning of the contract (where t = 0)?
Is davidson masonry member managed or manager managed : Lafayette designed numerous metal salmon sculptures that were incorporated into colorful decorative concrete forms designed by Rowe.
Calculate the exercise value of the option : An investor is considering buying a call option with an exercise price of $60. The investor is willing to pay the premium of 50 cents per option.
How the company aligns its benefits with its corporate value : How the company aligns its benefits with its corporate values? How the company uses its own products or services to enhance the total compensation?

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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