# accounting

posted by .

Did I do any of this right and how do I figure Retain earnings (where does net income and dividends come from?
Cash .05(\$1,150,000) = \$57,500
Accounts Receivable .15(\$1,150,000) = \$172,500
Inventory .25(\$1,150,000) = \$287,500
Fixed Assets .40(\$1,150,000) = \$ 460,000
Total Assets \$977,500
Liabilities + Owners’ Equity
Accounts Payable .15(\$1,150,000) = \$172,500
Accruals .10(\$1,150,000) = \$115,000
Notes Payable \$12,000,000
Long-Term Bonds \$ 5,000,000
Common Stock \$10,000,000
This is where I run into a snag where is the Net Income and Dividends come from?
Retain Earnings \$33,000,000 + Net Income – Dividends

## Similar Questions

1. ### accounting

Assets Cash (Net Effect) \$35,000 20,000 +15,000 A/R 33,000 14,000 +19,000 Merchandise Inventory 27,000 20,000 +7,000 PPE 60,000 78,000 -18,000 Accumulated Depreciation (29,000) (24,000) ?
2. ### Accounting

Help with Crosby Corporation? Can you please help me. I am completly stuck. Prepare a statement of cash flows for the Crosby Corporation. Follow the general procedures indicated in Table 2–10 on page 38 . Statement of cash flows
3. ### Math/Accounts

Estimate the cost of ending inventory based on the retail method using the following information: Cost Retail Beginning Inventory \$ 600,000 \$ 800,000 Purchases \$ 450,000 \$ 600,000 Net Sales \$1,000,000 A. \$150,000 B. \$262,500 C. \$300,000 …
4. ### Finance

P2. Use your knowledge of balance sheets to fill in the missing amounts: Assets: CASH - \$10,000 ACCOUNTS RECEIVABLE - \$100,000 INVENTORY - \$------ TOTAL CURRENT ASSETS – \$220,000 GROSS PLANT AND EQUIPMENT – \$500,000 LESS: ACCUMULATED …
5. ### Accounting

The comparative statements of Lucille Company are presented here. LUCILLE COMPANY Income Statements For the Years Ended December 31 First number are 2012 2012 then 2011 Net sales \$1,890,540 \$1,750,500 Cost of goods sold 1,058,540 1,006,000 …
6. ### Math

Please use the following information to answer questions 4-5: Cash \$10,000 Accounts Payable \$7,000 Accounts Receivable \$6,400 Mortgage Payable \$65,000 Supplies \$1,500 Long-term Debt \$36,000 Building \$150,000 Notes Payable \$9,000 Equipment …
7. ### Accounting

Please use the following information to answer questions 4-5: Cash \$10,000 Accounts Payable \$7,000 Accounts Receivable \$6,400 Mortgage Payable \$65,000 Supplies \$1,500 Long-term Debt \$36,000 Building \$150,000 Notes Payable \$9,000 Equipment …
8. ### Accounting

Cash \$10,000 Accounts Payable \$7,000 Accounts Receivable \$6,400 Mortgage Payable \$65,000 Supplies \$1,500 Long-term Debt \$36,000 Building \$150,000 Notes Payable \$9,000 Equipment \$80,000 Preferred Stock \$32,000 Merchandise Inventory …
9. ### Accounting

Cash \$10,000 Accounts Payable \$7,000 Accounts Receivable \$6,400 Mortgage Payable \$65,000 Supplies \$1,500 Long-term Debt \$36,000 Building \$150,000 Notes Payable \$9,000 Equipment \$80,000 Preferred Stock \$32,000 Merchandise Inventory …
10. ### math

Given is the Income Statement for the year ended December 31, 2015, Statement of Retained Earnings for the year ended December 31, 2015 and Comparative Balance Sheets for 2014 and 2015 of Maris Corporation:    Maris Corporation Income …

More Similar Questions