Question

The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal...

The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:  

Retained earnings balance at the beginning of the year $ 132,500
Cash dividends declared for the year 52,500
Proceeds from the sale of equipment 87,500
Gain on the sale of equipment 8,300
Cash dividends payable at the beginning of the year 24,500
Cash dividends payable at the end of the year 27,800
Net income for the year 98,500


What is the ending balance for retained earnings?

Multiple Choice

  • $208,500.

  • $187,000.

  • $178,500.

  • $261,000.

  • $289,000.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
An employee earns $5,500 per month working for an employer. The FICA tax rate for Social...
An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. The employee has $182 in federal income taxes withheld. The employee has voluntary...
The accountant for TI Company is preparing the company's statement of cash flows for the fiscal...
The accountant for TI Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year 151,000 Cash dividends declared for the year 46,000 Net income for the year 92,000 16) What is the ending balance for retained earnings? A. 264,000 B. 13,000 C. 243,000 D. 197,000 E. 105,000 17) Noncash investing and financing activities may be disclosed in A. A notes in...
8) The accountant for Sysco company is preparing the company's statement of cash flows for the...
8) The accountant for Sysco company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year 819,000 Net Income for the year 230,000 Cash dividends declared for the year 42,000 Retained earning balance at the end of the year 1,007,000 Cash dividends payable at the end of the year 11,000 What is the amount of cash dividends paid that should be reported...
1) The accountant for Huckleberry Company is preparing the company's statement of cash flows for the...
1) The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 157,000 Cash dividends declared for the year 48,400 Net income for the year 95,000 What is the ending balance for retained earnings? Multiple Choice $108,600. $203,600. $13,600. $252,000. $273,000. 2) Current information for the Healey Company follows: Beginning raw materials inventory $ 16,700 Raw material...
MC Qu. 129 A companys income statement... A company's income statement showed the following: net income,...
MC Qu. 129 A companys income statement... A company's income statement showed the following: net income, $148,000 and depreciation expense, $37,200. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,800; merchandise inventory increased $22,800; and accounts payable increased $5,800. Calculate the net cash provided or used by operating activities. Multiple Choice $144,800. $180,000. $142,000. $214,000. $190,400. MC Qu. 170 Fernwood Company is... Fernwood Company is...
44. In preparing a company's statement of cash flows for the most recent year, the following...
44. In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment $ 14,000 Purchase of equipment 226,000 Proceeds from the sale of equipment 102,000 Repayment of outstanding bonds 87,000 Purchase of treasury stock 25,000 Issuance of common stock 96,000 Purchase of land 116,000 Increase in accounts receivable during the year 33,000 Decrease in accounts payable during the year 75,000 Payment of cash dividends 35,000 Net cash...
1. A company's income statement showed the following: net income, $117,000; depreciation expense, $31,500; and gain...
1. A company's income statement showed the following: net income, $117,000; depreciation expense, $31,500; and gain on sale of plant assets, $5,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,700; merchandise inventory increased $19,500; prepaid expenses increased $6,500; accounts payable increased $3,700. Calculate the net cash provided or used by operating activities. 2. Marlow Company purchased a point of sale system on January 1...
As the accountant for MM Group your duties include preparing the Statement of Cash Flows from...
As the accountant for MM Group your duties include preparing the Statement of Cash Flows from the information provided below. MM Group Comparative Statements of Financial Position As at June 30                                                    2018                                                    2017 Cash      55,000    45,000 Accounts Receivable     100,000 82,000 Prepaid Expenses      10,000     8,000 Inventory      65,000 60,000 Equity Investments (non-trading)       70,000 80,000 Equipment      50,000 40,000 Building    300,000 300,000 Land    80,000    40,000                                                730,000                        655,000 Allowance for Doubtful...
Co. uses the indirect method to prepare its statement of cash flows. Refer to the following...
Co. uses the indirect method to prepare its statement of cash flows. Refer to the following information for the year 2014:   Long-Term Notes Payable, beginning balance, $80,000 Long-Term Notes Payable, ending balance, $76,000 Common Stock, beginning balance, $3,000 Common Stock, ending balance, $26,000 Retained Earnings, beginning balance, $75,000 Retained Earnings, ending balance, $115,000 Treasury Stock, beginning balance, $6,000 Treasury Stock, ending balance, $10,000 No stock was retired. No treasury stock was sold. During 2014, the company repaid $36,000 of Long-Term...
Preparing a Statement of Cash Flows (Direct Method) Use the following information about the 2016 cash...
Preparing a Statement of Cash Flows (Direct Method) Use the following information about the 2016 cash flows of Mason Corporation to prepare a statement of cash flows under the direct method. Refer to Exhibit 4.3 for the appropriate format. Cash balance, end of 2016 $12,000 Cash paid to employees and suppliers 148,000 Cash received from sale of land 40,000 Cash paid to acquire treasury stock 10,000 Cash balance, beginning of 2016 16,000 Cash received as interest 6,000 Cash paid as...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT