Homework Answers
Answer----$72,100
|
Ending balance of Retained earnings |
$ 2,99,500.00 |
|
|
Less: |
||
|
Beginning balance of retained earnings Balance |
$ 2,53,100.00 |
|
|
Less: Cash dividend |
$ (15,000.00) |
|
|
Less: Stock dividend |
$ (10,700.00) |
|
|
Subtotal |
$ 2,27,400.00 |
|
|
Net income earned |
$ 72,100.00 |
Stock dividend and cash dividend both reduces the balance of retained earnings . The retained earnings increase with net income and decrease with dividends. When we deduct beginning adjusted balance (as stated in subtotal above) by ending balance we get net income.
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Problem 13-2A (Part Level Submission) The following account balances relate to the stockholders' equity accounts of...
The following account balances relate to the stockholders’ equity accounts of Kerbs Corp. at year-end....
The following account balances relate to the stockholders’
equity accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019. The common...
Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at...
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Question 3 The following account balances relate to the stockholders’ equity accounts of Kerbs Corp. at...
Question 3
The following account balances relate to the stockholders’ equity
accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019....
Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at...
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The following account balances relate to the stockholders’
equity accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019. The common...
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Question 3
The following account balances relate to the stockholders’ equity
accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019....
Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Preferred stock, 5,000 shares Retained earnings $157,800 129,800 302,300 $130,700 129,800 248,000 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,800 and increase common stock by $10,800. Cash dividends were $15,700 in both 2020 and 2019....
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