The total retained earnings on 31st December 2016 is $197,100. The journal entry are attached below.
<h3>What is Retained Earnings?</h3>
Retained earning is basically the profits of the company which is kept aside to meet the future requirement of the company. It the amount which is left over after deducting all cost such as direct cost, indirect cost, income taxes and dividend.
The retained earning is used in the future projects or for buying the equipment for the company.
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Answer:
$6.5 per share
Explanation:
Given that,
Net income = $6,000,000
Preferred dividend = $150,000
Weighted average number of common shares = 900,000
Angel's Basic earnings per share:
[Net income - Preferred dividend ] ÷ Weighted average number of common shares
= [$6,000,000 - $150,000] ÷ 900,000
= 5,850,000 ÷ 900,000
= $6.5 per share
<span>An outstanding check is a check issued by the payor
and released to the payee that remains to be undeposited or uncashed check at a
certain financial period. When reconciling the bank statements with company
books, an outstanding check is deducted from the unadjusted bank balance to
arrive at the adjusted bank balance. </span>
Answer:
The question is <em>"Record the transactions on April 1 and April 10. View transaction list Journal entry worksheet Record the sale on April 1."</em>
Date Account Title and Explanation Debit Credit
April 1 Account receivables $7,000
Sales revenue $7,000
April 10. Cash ($7,000*98%) $6,860
Sales discount ($7,000*2%) $140
Account receivables $7,000
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