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Accounting

Problem:

DDD Inc. reported the following for the period ending July^st 2011: sales of $2.5 million, cost of food sold of $1,750,000, depreciation expenses of $595,000, dividends of $60,000, accurals of $115,000 and interest expenses of $190,000. DDDs tax rate is 35%.

Required:

Question 1: What is the company net income for the period ending July 31^st 2011?

Question 2: What is the change in Retained Earnings at July 31^st 2011?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91170382

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