Ask Experts Questions for FREE Help !
Ask
    w4ebony's Avatar
    w4ebony Posts: 1, Reputation: 1
    New Member
     
    #1

    Sep 9, 2007, 09:25 PM
    Income and Retained Earnings Relationships
    Assume that retained earnings increased by $240,000 from December 31, 2005 to December 31, 2006 for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
    1. Compute the net income for the year.
    2. Assume that the revenues for the year were $920,000. Compute the expense incurred for the year.
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
     
    #2

    Sep 10, 2007, 03:29 AM
    Please read the announcement on the following link.

    https://www.askmehelpdesk.com/math-s...board-b-u.html

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Retained Earnings [ 1 Answers ]

Hi! I suck at accounting and I don't know what I am doing... I have to find the retained earnings for two different occasions... 1. After one year of business, Holt's Computer Repair Inc. had 6,000 in assets, 3,500 in liabilities, and 1,000 in contributed capital. What is the retained...

Retained earnings [ 1 Answers ]

At the end of the year, retained earnings totaled $1,700. During the year, net income was $250 and dividends of $120 were declared and paid. Retained earnings at the beginning of the year totaled?

Retained earnings [ 2 Answers ]

During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was...

Retained earnings [ 1 Answers ]

simpson enterprise began 2003 with retained earnings of 1,000,000.during 2003 the firm earned 400,000after taxes.from the amount,preffered stockholders were paid 47,000in dividendsand common stockholders were paid200,000.at the year end 2003the firm retained earnings totaled=


View more questions Search