Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. skysong, inc. began the year with retained earning

Skysong, Inc. began the year with retained earnings of $308000. During the year, the company issued...

60.1K

Verified Solution

Question

Accounting

Skysong, Inc. began the year with retained earnings of $308000.During the year, the company issued $417000 of common stock,recorded expenses of $1193000, and paid dividends of $80400. IfSkysong ending retained earnings was $328000, what was thecompany’s revenue for the year? $1293400 $1213000 $1630000$1710400

Answer & Explanation Solved by verified expert
4.4 Ratings (814 Votes)
Retained Earning at Beginning of the year is 308000 Retained Earning at End of the year is 328000 Retained Earnings at end represents closing balance after payment of divided    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

You are an environmentalist hoping to gain public interest in protecting the environment Make a...

Geometry
1.2K views

Line segment BA is tangent to the circle 55 C A 120 What is the...

Calculus
1.2K views

Use the price demand equation below to find the revenue function Sketch a graph of...

Calculus
1.2K views

Differentiate the function f x sin x In 2x f x

Algebra
1.2K views

tion 1 of 8 Step 1 of 1 the perimeter of a triangle wit

Accounting
1.2K views

Which of the following is best described as a liquidity ratio? Return on assets O...

Accounting
1.2K views

A lease agreement that qualifies as a capital lease calls for annual lease payments of...

Accounting
1.2K views

The following information pertains to Guys Gear Company: ...

Accounting
1.2K views

What is XBRL and why do we need that

Accounting
1.2K views

On Jan. 1, Year 1, Foxcroft Inc. issued 80 bonds with a face value of...

Accounting
1.2K views

You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage...

Accounting
1.2K views

Exercise 23-2 Accept new business or not LO A1 Farrow Co. expects to sell 300,000...