Lorna Company is a new company with a beginning retained earnings balance of zero. It has the following account balances at the end of the first year of operations: $37,000 $100,000 $13,000 $9,000 $12,000 $9,000 Accounts Payable Revenues Salaries Expense Dividends Utilities Expense Advertising Expense Short-term Investments Cash Land Common Stock $20,000 $82,000 OA. $75,000 O B. $25,000 OC. $66,000 D. $57,000 $50,000 $58,000 What is the ending balance in Retained Earnings?

Lorna Company is a new company with a beginning retained earnings balance of zero. It has the following account balances at the end of the first year of operations: $37,000 $100,000 $13,000 $9,000 $12,000 $9,000 Accounts Payable Revenues Salaries Expense Dividends Utilities Expense Advertising Expense Short-term Investments Cash Land Common Stock $20,000 $82,000 OA. $75,000 O B. $25,000 OC. $66,000 D. $57,000 $50,000 $58,000 What is the ending balance in Retained Earnings?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 15EA: Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid...

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Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
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