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For the following four cases, compute the ending amount of retained earnings. Caution: Not all of the items listed should be included in the computation
For the following four cases, compute the ending amount of retained earnings. Caution: Not all of the items listed should be included in the computation of ending retained earnings.
NOTE: If required, use the minus sign, such as -1234, to indicate a deficit balance in retained earnings.
Case A | Case B | Case C | Case D | |||||
Capital stock | $ 58,700 | $ 29,400 | $ 58,900 | $ 107,700 | ||||
Long-term note payable | 17,600 | 45,500 | 24,700 | 31,300 | ||||
Dividends | 2,900 | 4,400 | 2,100 | 5,900 | ||||
Retained earnings (beginning) | 49,000 | 14,700 | 30,100 | 68,500 | ||||
Inventory | 97,900 | 146,900 | 68,500 | 195,800 | ||||
Cash | 11,700 | 17,600 | 4,800 | 35,200 | ||||
Net income (loss) | 4,900 | 1,000 | 11,600 | (9,800) | ||||
Machinery | 171,300 | 58,800 | 48,600 | 182,100 | ||||
Retained earnings (ending) | ____ | ____ | ______ | _____ |
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