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 distinctive tone or style of communication used by individuals or organizations to express their personality or brand identity.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders, aiming for a positive impact.

Multiple Channels

Utilizing various communication or distribution pathways to reach a wide audience or conduct business, such as in marketing, retail, and broadcasting.