Tuscan Inc. had a retained earnings balance of $60,000 at December 31, 2018. During the year, Tuscan had the following selected transactions. a. Reported net income of $100,000.
b. Revised an estimate of a machine’s salvage value.
c. Depreciation increased by $1,000 per year. An error was discovered.
d. Three years ago, a purchase of a building was incorrectly expensed.
e. The effect is understated retained earnings of $12,000 (net of tax benefit).
f. Paid cash dividends of $33,000.

Required:
Calculate the retained earnings balance at December 31, 2019.

On july 2, year 4, wynn, inc., purchased as a short-term investment a $1 million face-value kean co. 8% bond for $910,000 plus accrued interest to yield 10%. the bonds mature on january 1, year 11, and pay interest annually on january 1. on december 31, year 4, the bonds had a fair value of $945,000. on february 13, year 5, wynn sold the bonds for $920,000. in its december 31, year 4, balance sheet, what amount should wynn report for the bond if it is classified as an available-for-sale security?

The direct labor budget of yuvwell corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st quarter 2nd quarter 3rd quarter 4th quarterbudgeted direct labor-hours 11,200 9,800 10,100 10,900the company uses direct labor-hours as its overhead allocation base. the variable portion of its predetermined manufacturing overhead rate is $6.00 per direct labor-hour and its total fixed manufacturing overhead is $80,000 per quarter. the only noncash item included in fixed manufacturing overhead is depreciation, which is $20,000 per quarter.required: 1. prepare the company’s manufacturing overhead budget for the upcoming fiscal year.2. compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

Determine allison's december 31, 2018, investment in mathias balance.