Prepare a Statement of Retained Earnings for the Year Ended

question 29

Essay

Prepare a Statement of Retained Earnings for the year ended June 30, 2014.
Chedacorn was incorporated on July 1, 2012 by 10 shareholders who each invested $100,000 in cash in exchange for common shares. Chedacorn's year end is June 30th. In its first year of business Chedacorn had a net income of $243,750. For its years ended June 30, 2013 and 2014, its second and third years of operation, Chedacorn reported net income of $472,500 and $560,000 respectively. In its first year Chedacorn did not pay any dividends, but in fiscal 2013 it paid $62,500 in dividends and in 2014 it paid $100,000 in dividends.

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Definitions:

Voice

The ability and means by which employees can express opinions, concerns, or suggestions about their work and workplace conditions.

Critical Industrial Relations

An approach to the study and practice of industrial relations that emphasizes the inherent conflicts of interest between employers and employees.

Social Movement Unionism

A form of unionism that combines traditional labor organizing with broader social and political issues, aiming to enact social change.

Industrial Relations

A field of study and practice focused on the management of employment relationships and the dynamics between employers, employees, and their representatives.