Business
Business, 16.10.2020 14:01, aileenf598

Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 annual report as follows. RENN-DEVER CORPORATIONStatements of Retained Earnings

For the Years Ended December 31 2021 2020 2019
Balance at beginning of year $6,962,452 $5,659,552 $5,824,552
Net income (loss) 3,408,700 2,300,900 (165,000 )
Deductions:
Stock dividend (34,500 shares) 241,500
Common shares retired (120,000 shares) 240,000
Common stock cash dividends 899,950 758,000 0
Balance at end of year $9,229,702 $6,962,452 $5,659,552

At December 31, 2013, common shares consisted of the following:

Common stock, 1,855,000 shares at $1 par $1,855,00
Paid-in capital—excess of par 7,420,000

Required:
Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2014, 2015, and 2016. Prepare the journal entries that reflect those events and transactions.

answer
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 11:10, addsd
Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.
Answers: 1
image
Business, 22.06.2019 15:20, amulets5239
Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.
Answers: 3
image
Business, 22.06.2019 22:00, meramera50
Only the united states has embassies. true or false
Answers: 2
image
Business, 23.06.2019 00:30, mj1226
How much of your paycheck do you have immediate access to once you deposit it into your bank account a. all of it b. a portion of it c. none of it
Answers: 1
Do you know the correct answer?
Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 ann...

Questions in other subjects: