Homework Answers
a. Calculation of Retained Earnings as of December 31, Year 1:
Retained Earnings = Total Assets - Liabilities - Common Stock
= Cash - Notes Payable - Common Stock
= $166,000 - $86,600 - $53,400
= $26,000
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Exercise 1-7A Missing information and recording events LO 1-4 As of December 31 Year 1. Moss...
Check my As of December 31, Year 1, Moss Company had total cash of $166.000, notes...
Check my As of December 31, Year 1, Moss Company had total cash of $166.000, notes payable of $86,600, and common stock of $53.400 During Year 2, Moss earned $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1 b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $166,000, notes payable of...
As of December 31, Year 1, Moss Company had total cash of $166,000, notes payable of $86,600, and common stock of $53,400. During Year 2, Moss eamed $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4.000 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under th appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under t appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate...
Saved Help As of December 31, Year 1, Moss Company had total cash of $155,000, notes...
Saved Help As of December 31, Year 1, Moss Company had total cash of $155,000, notes payable of $85,500, and common stock of $52,300. During Year 2. Moss earned $35,000 of cash revenue, paid $19,500 for cash expenses, and paid a $2.900 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of $86,500, and common stock of $53,300. During Year 2. Moss earned $45,000 of cash revenue, paid $24.500 for cash expenses, and paid a $3.900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31 Year 1. Rotained earnings nces b.& c. Create an accounting equation and record the beginning account balances, revenue expense and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $159,000, notes payable of...
As of December 31, Year 1, Moss Company had total cash of $159,000, notes payable of $85.900, and common stock of $52,700. During Year 2. Moss earned $39,000 of cash revenue, paid $21,500 for cash expenses, and paid a $3,300 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. Retained earnings S 20,400 b.& c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events...
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300,...
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300, and common stock of $52,100. During 2019, Moss earned $33,000 of cash revenue, paid $18,500 for cash expenses, and paid a $2,700 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b.&c. Record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. Complete this question by entering...
Few questions i need help with. please help. σ https://newcorrect İlaSearch As of December 31, 2018,...
Few questions i need help with. please help.
σ https://newcorrect İlaSearch As of December 31, 2018, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500 During 2019, Moss earned $42,000 of cash revenue. paid $24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, 2018 b.&c. Record the beginning account balances, revenue, expense, and dividend events under the...
Check my As of December 31, Year 1, Moss Company had total cash of $166.000, notes payable of $86,600, and common stock of $53.400 During Year 2, Moss earned $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1 b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $166,000, notes payable of $86,600, and common stock of $53,400. During Year 2, Moss eamed $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4.000 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under th appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under t appropriate...
As of December 31, Year 1, Moss Company had total cash of $146,000, notes payable of $84,600, and common stock of $51,400. During Year 2, Moss earned $26,000 of cash revenue, paid $15,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate...
Saved Help As of December 31, Year 1, Moss Company had total cash of $155,000, notes payable of $85,500, and common stock of $52,300. During Year 2. Moss earned $35,000 of cash revenue, paid $19,500 for cash expenses, and paid a $2.900 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, Year 1. b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of $86,500, and common stock of $53,300. During Year 2. Moss earned $45,000 of cash revenue, paid $24.500 for cash expenses, and paid a $3.900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31 Year 1. Rotained earnings nces b.& c. Create an accounting equation and record the beginning account balances, revenue expense and dividend events under...
As of December 31, Year 1, Moss Company had total cash of $159,000, notes payable of $85.900, and common stock of $52,700. During Year 2. Moss earned $39,000 of cash revenue, paid $21,500 for cash expenses, and paid a $3,300 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. Retained earnings S 20,400 b.& c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events...
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300, and common stock of $52,100. During 2019, Moss earned $33,000 of cash revenue, paid $18,500 for cash expenses, and paid a $2,700 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b.&c. Record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. Complete this question by entering...
Few questions i need help with. please help.
σ https://newcorrect İlaSearch As of December 31, 2018, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500 During 2019, Moss earned $42,000 of cash revenue. paid $24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders Required a. Determine the amount of retained earnings as of December 31, 2018 b.&c. Record the beginning account balances, revenue, expense, and dividend events under the...
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