For 2012,the Hilary Corporation Had Beginning and Ending Retained Earnings

question 106

Essay

For 2012,the Hilary Corporation had beginning and ending Retained Earnings balances of $198,054 and $231,000,respectively.Also during 2012,the corporation declared and paid cash dividends of $29,000 and issued stock dividends valued at $16,000.Assuming that no other items affected Retained Earnings and that total expenses were $32,916,what was the amount of revenues for 2012?

---

Definitions:

Noncash Investing

Investing activities that do not involve immediate cash transactions, such as acquiring assets through the issuance of equity or exchanging one asset for another.

Financing Activity

Financial activities related to raising funds, repaying debt, and paying dividends, which are reflected in the cash flow statement.

Common Stock

A form of investment that signifies part ownership in a firm, granting the owner the right to vote and a portion of the corporation's earnings via dividends.

Land

An asset category in accounting, representing the earth's surface owned by an individual or entity, not depreciated over time.