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N76 [4]
3 years ago
9

Wildhorse Co. began the year 2022 with retained earnings of $651000. During the year, the company sold additional shares of stoc

k for $1017000, recorded revenues of $649000, expenses of $376000, and paid dividends of $141000. What was Wildhorse's retained earnings balance at the end of 2022?
Business
1 answer:
Volgvan3 years ago
7 0

Answer:

$1,800,000

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

Ending retained earnings = Beginning retained earnings + additional stock issued + net income - dividend paid

= $651000 + $1017000 + $649000 - $376000 - $141000

= $1,800,000

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Other things remaining the same, if the average aggregate inventory value goes down, then?
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Other things remain the same if the average aggregate inventory value goes down, then the inventory turnover ratio will go up, but weeks of supply will go down.

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7 0
1 year ago
Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $6.10 dividend every year, in perpetuity. If thi
Contact [7]

Answer:

7.56%

Explanation:

Calculation for the required return for Smiling Elephant

Using this formula

Required return =D/P0

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Required return =$6.10/$80.65

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5 0
3 years ago
At July 31, Cullumber Company has this bank information: cash balance per bank $7,310, outstanding checks $715, deposits in tran
Luba_88 [7]

Answer:

$7,900

Explanation:

In Bank reconciliation statement the balances of Bank statement and the Balance from cash register is adjusted to calculated the adjusted cash balance for reporting at the end of the period. This is due to some outstanding deposits and Payment and other experiences which makes a difference between the bank statement balance and cash register balance.

Cash balance per bank = $7,310

Outstanding checks are those check which has been issued but not been presented in the bank yet. Deposit in transit is the amount of deposit which is pending in the clearing process.

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Bank charges are already adjusted in the cash balance per bank.

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3 years ago
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