Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Roebke Company reported retained earnings at December 31, 2021, of $400,000. Roebke had 300,000 shares issued and 160,000 shares of common stock outstanding throughout

image text in transcribed

Roebke Company reported retained earnings at December 31, 2021, of $400,000. Roebke had 300,000 shares issued and 160,000 shares of common stock outstanding throughout 2022. The following transactions occurred during 2022. 1. A cash dividend of $1.50 per share was declared and paid. 2.A 5% stock dividend was declared and distributed when the market price per share was $15 per share. 3. Net income was $250,000. How much was Roebke's ending retained earnings balance for 2022? Enter your answer with a comma between the hundreds and thousands, and no decimal point or cents. For example, if the answer is 123456, enter the answer as 123,456 type your answer...

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Edmonds, Tsay, olds

6th Edition

71220720, 78110890, 9780071220729, 978-0078110894

More Books

Students also viewed these Accounting questions