Question
Following is information for Goodyear Tire & Rubber Company for three recent years. Reconcile the retained...
Following is information for Goodyear Tire & Rubber Company for three recent years. Reconcile the retained earnings account for the three-year period.
|
(in millions) |
|
|
Retained earnings, December 31, 2016 |
5,808 |
|
Net income, 2016 |
1,264 |
|
Net income, 2015 |
307 |
|
Net income, 2014 |
2,452 |
|
Other, 2016 |
56 |
|
Dividends, 2016 |
82 |
|
Dividends, 2015 |
68 |
|
Dividends, 2014 |
67 |
show work thanks
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
Following is information for Goodyear Tire & Rubber Company for three recent years. Reconcile the retained...
Following is information for Goodyear Tire & Rubber Company
for three recent years. Reconcile the retained earnings account for
the three-year period.
(in millions)
Retained earnings 12/31/2010
$866
Net income, 2013
629
Net income, 2012
212
Net income, 2011
343
Dividends, 2013
41
Dividends, 2012
29
Dividends, 2011
22
The Goodyear Tire & Rubber Conpany's December 31, 2016 financial statements reported the following( in millions)...
The Goodyear Tire & Rubber Conpany's December 31,
2016 financial statements reported the following( in
millions)
Total
Assets
$16,511
Total
liabilities
11,786
Total Shareholders
Equity
4,725
Dividends
82
Net
Income(loss)
1,264
Retained earnings(Dec 31,2015) 4,570
What did Good year report for retained earnings at December 31,
2016 ?
(a) $5,907
(b) $5,916
(c) $5,834
(e) There is not enough information to determine the answer.
Question 5 Not yet answered Marked out of 1.00 Flag question Question text The Goodyear Tire...
Question 5
Not yet answered
Marked out of 1.00
Flag question
Question text
The Goodyear Tire & Rubber Company's December 31, 2016
financial statements reported the following (in millions)
Total assets
$16,511
Total liabilities
11,786
Total shareholders' equity
4,725
Dividends
82
Net income (loss)
1,264
Retained earnings, December 31, 2015
$ 4,570
What did Goodyear report for retained earnings at December
31, 2016?
Select one:
A. $5,907 million
B. $5,752 million
C. $5,916 million
D. $5,834 million
E. There is...
Information from the financial records is presented in the following table: Retained earnings, December 31, 2014...
Information from the financial records is presented in the
following table:
Retained earnings, December 31, 2014
$400,000
Retained earnings, December 31, 2013
250,000
Dividends payable, December 31, 2014
20,000
Dividends payable, December 31, 2013
30,000
Net income for 2014
200,000
There were no retained earnings transactions other than those
dealing with dividends and net income. What were total dividends
declared during 2014?
How much cash was paid for dividends during 2014?
At the beginning of 2014, Mask Ltd. had a Retained Earnings balance of $31,860. For the...
At the beginning of 2014, Mask Ltd. had a Retained Earnings
balance of $31,860. For the next three years, the firm reported the
following net income (loss) and cash dividends declared and
paid:
Year:
Net Income (loss):
Cash Dividends:
2014
$9,040
$425
2015
$16,850
$1,220
2016
($3,895)
$0
What would be the balance of Retained Earnings reported on the
year-end balance sheet as of 12/31/2016?
a. $60,000
b. $52,210
c. $53,855
d. $55,500
e. $27,965
Caterpillar Inc.’s statement of stockholders’ equity for 2016 and 2015 shows the following amounts. Fill in...
Caterpillar Inc.’s statement of stockholders’ equity for 2016
and 2015 shows the following amounts. Fill in the missing items to
show how retained earnings articulate across the years. (6
points)
($ millions)
2016
2015
Retained earnings, beginning of year
A ?
$28,515
Net income (loss) for the year
(67)
C ?
Dividends
B ?
(1,781)
Retained earnings, end of year
$27,377
$29,246
__________
__________
__________
Statement of Retained Earnings Landon Corporation was organized on January 2, 2015, with the investment of...
Statement of Retained Earnings Landon Corporation was organized
on January 2, 2015, with the investment of $100,000 by each of its
two stockholders. Net income for its first year of business was
$85,200. Net income increased during 2016 to $125,320 and to
$145,480 during 2017. Landon paid $20,000 in dividends to each of
the two stockholders in each of the three years.
Prepare a statement of retained earnings for the year ended
December 31, 2017.
Landon Corporation
Statement of Retained...
Statement of Retained Earnings Landon Corporation was organized on January 2, 2015, with the investment of...
Statement of Retained Earnings
Landon Corporation was organized on January 2, 2015, with the
investment of $100,000 by each of its two stockholders. Net income
for its first year of business was $97,820. Net income increased
during 2016 to $141,840 and to $165,950 during 2017. Landon paid
$23,000 in dividends to each of the two stockholders in each of the
three years.
Required:
Prepare a statement of retained earnings for the year ended
December 31, 2017.
In 2016, Dalia Corp., a calendar fiscal-year company, discovered that depreciation expense was erroneously overstated $65,000...
In 2016, Dalia Corp., a calendar fiscal-year company, discovered
that depreciation expense was erroneously overstated $65,000 in
both 2014 and 2015 for financial reporting purposes. Net income in
2016 is correct. The tax rate is 35%. The error was made only for
financial reporting, affecting depreciation and deferred income tax
accounts. CCA had been recorded correctly, and thus there will be
no change in taxes payable.
Additional information:
2016 2015
Beginning retained earnings $452,000 $429,000
Earnings (includes error in 2015)...
The following information is available for Amos Company for the year ended December 31, 2017. A)...
The following information is available for Amos Company for the
year ended December 31, 2017.
A) Balance of retained earnings, December 31, 2016, prior to
discovery of error, $851,000.
B) Cash dividends declared and paid during 2017, $20,000.
C) It neglected to record 2015 depreciation expense of $46,600,
which is net of $6,600 in tax benefits.
D) The company earned $221,000 in 2017 net income.
Prepare a 2017 statement of retained earnings for Amos Company.
(Amounts to be deducted should...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 3 minutes ago
asked 5 minutes ago
asked 16 minutes ago
asked 17 minutes ago
asked 17 minutes ago
asked 20 minutes ago
asked 59 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago