FireFlight
28.01.2020 •
Business
The following information is reported for kinney corporation at the end of 2013.
- accounts receivable $103,500
- retained earnings ?
- accounts payable 49,500
- supplies inventory 40,500
- cash common stock 6,000
- equipment 621,000 495,000
a. compute the amount of retained earnings at the end of 2013.
b. if the amount of retained earnings at the beginning of 2013 was $135,000, and $54,000 in cash dividends were declared and paid during 2013, what was its net income for 2013?
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Ответ:
a. Compute the amount of retained earnings at the end of 2013.
With 621K in equip. With 495K in equip.
709.500583.500
b what was its net income for 2013?
With 621K in equip. With 495K in equip.
Net Income 628.500502.500
Explanation:
With 621K in equip. With 495K in equip.
- Accounts Receivable $103,500 103.500 103.500
- Supplies Inventory 40,500 40.500 40.500
- Equipment 621,000 495,000 621.000 495.000
765.000 639.000
- Accounts Payable 49,500 49.500 49.500
- Cash Common Stock 6,000 6.000 6.000
- Retained Earnings ? 709.500583.500
765.000639.000
Retainend earnings
Begining 135000135000
Cas Dividens -54000-54000
Retained earnings 709.500583.500
Net Income 628.500502.500
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