FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was extracted from the accounts of Oriole Company at December 31, 2020: CR(DR) Total reported income since incorporation $ 4880000 Total cash

The following information was extracted from the accounts of Oriole Company at December 31, 2020: CR(DR) Total reported income since incorporation $ 4880000 Total cash dividends paid ( 2430000) Unrealized holding loss on available-for-sale securities ( 363000) Total stock dividends distributed ( 596000) Prior period adjustment, recorded January 1, 2020 223000 What should be the balance of retained earnings at December 31, 2020?

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

BondsA Concise Guide For Investors

BondsA Concise Guide For Investors

Authors: M. Choudhry

2nd Edition

0230006493, 9780230006492

More Books

Students also viewed these Accounting questions

Question

★★★★★
Eight years ago, Yan purchased a $20,000 face value, 6% coupon bond with 15 years remaining to maturity. The prevailing market rate of return at the time was 7.2% compounded semiannually; now it is...

Answered: 1 week ago

Question

★★★★★
In line 14, constitute most nearly means A) Place in power. B) Account for. C) Amount to. D) Be regarded as.

Answered: 1 week ago

Question

★★★★★
If the distribution of X has a jump at the point a, then P(X = a) = 0.

Answered: 1 week ago

Question

★★★★★
Annabelle Sizemore has cashed in some treasury bonds and a life insurance policy that her parents had accumulated over the years for her. She has also saved some money in certificates of deposit and...

Answered: 1 week ago

Question

★★★★★
Which challenge results in project managers cutting corners in order to deliver fast results? Group of answer choices Transglobal operations Diffusion of accountability and authority Increased...

Answered: 1 week ago

Question

★★★★★
Cash $4,000 Selling Expenses 2,000 Accounts Payable 5,000 C. Camilia, Capital 2,620 Notes Payable, Long-term 400 Inventory 300 Administrative Expenses 2,700 Cost of Goods Sold 18,800 Equipment, Net...

Answered: 1 week ago

Question

★★★★★
21. Data: S0 = 100; X = 110; 1 + r = 1.1. The two possibilities for ST are 150 and 80. Calculate the value of a call option on the stock with an exercise price of 110. (Do not use continuous...

Answered: 1 week ago

Question

★★★★★
Car expenses using logbook and expense data Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a Mercedes for $38,340. Its effective life is eight years. Rory...

Answered: 1 week ago

Question

★★★★★
An analyst for Bloom Ltd, gathered the following information with regards to futures contract: Current spot-market price of R60 Risk-free interest rate of 8.87% per annum The six-month future...

Answered: 1 week ago

Question

★★★★★
Case 2: Maria Sosa is selling a 2015 Nissan Verson SV to Juan Rodriguez for RD$400,000.00 pesos. Juan Rodriguez tells her that he will pay Mrs. Sosa in cash. Analyze the case and then answer: Can Mr....

Answered: 1 week ago

Question

★★★★★
It is estimated that 28% of all adults in the United States invest in stocks and that 83% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also...

Answered: 1 week ago

Question

★★★★★
=+How much does a service cost? Most social media analytics tools are affordable, but some are designed for enterprise clients, which means they are pretty expensive. When evaluating the cost of...

Answered: 1 week ago

Question

★★★★★
=+Define social listening and social monitoring

Answered: 1 week ago

Question

★★★★★
=+ What features does it offer? Keep in mind that data equal money, and these tools can be somewhat expensive depending on the scope and the amount of data you want to collect.

Answered: 1 week ago

Previous Question Next Question