menu
Qammunity.org
Login
Register
My account
Edit my Profile
Private messages
My favorites
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totalling $141,000. No di…
Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totalling $141,000. No di…
asked
May 3, 2020
184k
views
1
vote
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totalling $141,000. No dividends were paid. What was their net income for the year?a) $257,000b) $116,000c) $398,000d) $323,000
Mathematics
high-school
Fire Emblem
asked
by
Fire Emblem
7.9k
points
answer
comment
share this
share
0 Comments
Please
log in
or
register
to add a comment.
Please
log in
or
register
to answer this question.
1
Answer
3
votes
Answer: A. $257,000.
Explanation:
Since the company did not issue dividends the formula for calculating its net income is Ending Retained Earnings minus the Beginning Retained Earnings
$2,242,000 - 2,242,000 = $257,000.
Waterprincess
answered
May 7, 2020
by
Waterprincess
8.3k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
← Prev Question
Next Question →
Related questions
asked
Sep 14, 2020
145k
views
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totaling $141,000. No dividends were paid. What was
Valentino Vranken
asked
Sep 14, 2020
by
Valentino Vranken
8.3k
points
Business
college
1
answer
3
votes
145k
views
asked
Nov 21, 2021
77.7k
views
Makers Corp. had additions to retained earnings for the year just ended of $141,000. The firm paid out $189,000 in cash dividends, and it has ending total equity of $4.94 million. The company currently
Tomascharad
asked
Nov 21, 2021
by
Tomascharad
7.9k
points
Business
college
1
answer
2
votes
77.7k
views
asked
Aug 16, 2024
230k
views
Revenues were $150,000, expenses were $141,000, and cash dividends declared and paid were $4000. What were the net income and the change in retained earnings for the period? A) Net income was $150,000;
Crunchdog
asked
Aug 16, 2024
by
Crunchdog
8.6k
points
Business
high-school
1
answer
0
votes
230k
views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
9.4m
questions
12.2m
answers
Other Questions
How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search Qammunity.org