Practice. Klington Empires. Mathematics & Economics Math Problem

Math Problems
Author Name
Institution Affiliation
Solution 1
Klington Empires reported the following amounts:
Beginning retained earnings = $5,510
Total assets = $20,450
Dividends = $900
Cost of goods sold = $19,475
Net income = $1,780
The ending retained earnings of the company are as follows:
Addition to retained earnings = net income -dividends
= (1780-900) = $880
Similarly
Ending retained earnings= beginning retained earnings + addition to retained earnings
= (5510+880)
= $6390
Solution 2
The amounts reported by Bears Den are as follows:
Common stock = $180,000
Sales revenue = $780,000
Total assets = $580,000
Dividends declared = $49,000
Total liabilities = $335,000
The retained earnings of Bears Den can be calculated in the following way.
Total Assets = Equity Capital + Total Liability
Here, equity capital shows the shares of the owner in the business.
Total Assets = Common stock + Retained Earnings + Total Liabilities
We will now calculate the needful in the following way.
Total Assets =$580000
Common stock = $180000
Total Liabilities =$335000
These values will be substituted in the following way.
$580000 = $180000+ Retained earnings +$335000
Retained Earnings = $580000 - $180000 -$335000
= $65 000
Solution 3
The missing amount has been calculated in the following way.
Gross profit=Sales-COGS
= (400,000-220,000) = $160,000
Solution 4
Bridgewater Student Landscape & Snowplow Company

Income Statement

Operating Revenues

$36,5000

--

--

Operating Expenses

$32,4600

Supplies

18,000

Equipment

48,000

Trucks

80,000

Accumulated Depreciation

17,700

Accounts Payable