E 18–18 - Brenner-Jude Corporation -Transactions affecting retained earnings ● LO6 LO7
Shown below in T-account format are the changes affecting the retained
earnings of Brenner-Jude Corporation during 2011. At January 1, 2011,
the corporation had outstanding 105 million common shares, $1 par per
share.
Required:
1. From the information
provided by the account changes you should be able to recreate the
transactions that affected Brenner-Jude’s retained earnings during 2011.
Prepare the journal entries that Brenner-Jude must have recorded during
the year for these transactions.
2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2011.
