Ask Question
BusinessBusiness
29 May, 06:50

The Andrews company currently has the following balances in their equity accounts: Common Stock $17,081 Retained earnings $98,561 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year?

+3
Answers (1)
  1. 29 May, 06:53
    0
    Andrews ending balance in Retained Earnings next year will be $128,861

    Explanation:

    Retained Earnings is a Reserve formed from the Company's Profits retained back in the business and forms part of Shareholders Equity

    Calculation of Ending Retained Earnings is: Opening Retained Earnings Balance + Net Profit for the Year - Dividends Declared during the year.

    Andrews Company Ending Retained Earnings for Next Year will be:

    Opening Retained Earnings Balance $98,561

    Add Net Profit for the Year $46,300

    Less Dividends ($16,000)

    Ending Retained Earnings $128,861
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The Andrews company currently has the following balances in their equity accounts: Common Stock $17,081 Retained earnings $98,561 Suppose ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Tweedie Company issues 11,500 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2014. The stock has a fair value of $575,000 on this date. The service period related to this restricted stock is 5 years.
Answers (1)
Which of the following is not a creative thinking exercise entrepeneuers use to generate ideas? challenge the usual think backward judge each idea as realistic or not draw idea maps
Answers (1)
During a trip to the grocery store, your friend wants to buy some bottled water. Some brands promote the fact that their product is artesian. Other brands boast that their water comes from a spring.
Answers (1)
When writing a report for a wiki, which approach is advised? A. Limit the opportunity for others to provide feedback on the wiki. B. Provide a special detail of content first, and then a general summary. C.
Answers (1)
Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $40 what number of workers produces this cost of production, assuming Hamburger Co has already determined it will purchase
Answers (1)
New Questions in Business
Eassy on covering tattoos in the medical field
Answers (1)
Which source of power would you apply if you use your personal charisma and punctuality to motivate location managers and employees to emulate (or be like) you?
Answers (1)
Andy assumed the character of jude in order to confront the
Answers (1)
Technician a says that a brake spoon is used to adjust brake shoes when the drum is installed. technician b says that a brake hold-down spring tool is used to remove and install hold-down springs. who is correct?
Answers (1)
Last week john got a call from his contact eric at alpine telecomm in switzerland, one of his company's largest international customers.
Answers (1)
Home » Business » The Andrews company currently has the following balances in their equity accounts: Common Stock $17,081 Retained earnings $98,561 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends.
Sign Up Forgot Password?