Balance of retained earnings

Bolling, Inc., has determined that the cost of its available-for-sale securities is greater than the market value by $80,000. If Bolling is subject to a 30 percent tax rate, what is the impact of this event on its statement of owners’ equity?

Hendricks, Inc., has an ending balance in retained earnings on December 31, 2010, of $567,432. During 2010 it had declared dividends of $100,000 and incurred a net loss of $246,700.

What was the beginning balance in retained earnings on January 1, 2010?

Engstrom Company began fiscal 2010 with a $40,000 deficit balance in retained earnings. During 2008 its net income was $167,890 and its declared but not paid dividends were $50,000.

What is the ending balance of retained earnings for Engstrom?


Looking for help with your homework?
Grab a 30% Discount and Get your paper done!

30% OFF
Turnitin Report
Title Page
Place an Order

Calculate your paper price
Pages (550 words)
Approximate price: -