Wendell Company Provided the Following Pertaining to Its Accounting Year

question 122

Multiple Choice

Wendell Company provided the following pertaining to its accounting year that ended December 31, 2016: • Common stock with a $10,000 par value was sold for $50,000 cash
• Cash dividends totaling $20,000 were declared, of which $15,000 were paid
• Net income was $70,000
• A 5% stock dividend resulted in a common stock distribution, which had a $5,000 par value and a $23,000 market value
• Treasury stock repurchased in a prior year for $9,000 was resold for $7,000 and in the journal entry to record the sale, Additional paid-in capital was debited for the amount of the difference between the repurchase price and the resale price
What is the amount of the increase in Wendell's retained earnings for the year ended December 31, 2016?

• A)$32,000.
• B)$25,000.
• C)$29,000.
• D)$27,000.

Understand object equality and comparison in Java.

Comprehend the concept of class invariants.

Gain knowledge on data storage units and conversion.

Apply Java programming skills to calculate and display values.

---

Definitions:

Mediation

A conflict resolution technique involving a neutral third party who helps disputing parties reach a voluntary agreement.

Binding Ruling

A final and enforceable decision given by a legal authority, which all involved parties must adhere to.

Contract

A legally enforceable pact made between two or more entities, binding them in agreement.

Punitive Damages

Compensation awarded in a lawsuit that exceeds simple restitution and is intended to punish the defendant for wrongdoing and deter future similar acts.