This Website Has Been Moved to a New Link


Loading

Dickinson Company Rogers Company

Price: $3.99 
 


(Multiple-step Income, Retained Earnings) Presented below is information related to Dickinson
Company for 2010.

Presented below is information related to Dickinson Company for 2010.


Retained earnings balance, January 1, 2010
$995,700

Sales for the year
26,425,000

Cost of goods sold
16,195,000

Interest revenue
77,600

Selling and administrative expenses
4,734,200

Write-off of goodwill (not tax deductible)
837,600

Income taxes for 2010
966,140

Gain on the sale of investments (normal recurring)
112,500

Loss due to flood damage–extraordinary item (net of tax)
397,500

Loss on the disposition of the wholesale division (net of tax)
445,900

Loss on operations of the wholesale division (net of tax)
93,000

Dividends declared on common stock
253,200

Dividends declared on preferred stock
81,200

Prepare a multiple-step income statement and a retained earnings statement. Dickinson Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2010, there were 500,000 shares of common stock outstanding all year.

1 comment:

  1. Every person has the passion in any aspects or things.
    If you love something and it came in front of you it completes your day and your mood turns into something you won't expected.
    I love your work and I want to read more about it. Visit my site if you have time . Thank you.

    triciajoy.com

    www.triciajoy.com

    ReplyDelete