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| Gwynn Company | |
| Calculation of Common Stock | Amount $ |
| Cash | 2,250.00 |
| Accounts receivable | 1,000.00 |
| Land | 1,100.00 |
| Supplies | 550.00 |
| Less: | |
| Retained Earnings | 2,940.00 |
| Common Stock | 1,960.00 |
| Bisk Company | |
| Calculation of net income for the year | Amount $ |
| Revenues | 2,235.00 |
| Less: Expense | 1,105.00 |
| Net income for the year | 1,130.00 |
| Calculation of Retained Earnings- Opening Balance | Amount $ |
| Ending Balance | 3,450.00 |
| Add: Dividends paid | 525.00 |
| Less: | |
| Net income for the year | 1,130.00 |
| Retained Earnings- Opening Balance | 2,845.00 |
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Required information The following account balances were drawn from the 2011 financial statements of Gwynn Company...
At the end of 2011, retained earnings for the Bisk Company was $3,450. Revenue earned by...
At the end of 2011, retained earnings for the Bisk Company was $3,450. Revenue earned by the company in 2011 was $2,235, expenses paid during the period were $1,105, and dividends paid during the period were $525. Based on this information alone, retained earnings at the beginning of 2011 was Required information Cole Company began operations on January 1, 2011. During 2011, the company engaged in the following cash transactions: 1) issued stock for $30,000 2) borrowed $33,000 from its...
The following account balances were drawn from the 2011 financial statements of Gwynn Company Cash $2,240...
The following account balances were drawn from the 2011 financial statements of Gwynn Company Cash $2,240 Supplies $540 A/R 950 Common Stock ? Land 1,000 Retained earnings 2,890 Revenues 5,500 Expenses 2,640 Based on the above information, what is the balance of Common Stock $2,970 $2,860 $3,890 $1,840
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by...
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by the company in 2011 was $2,600, expenses paid during the period were $1,135, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of 2011 was On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock = $500 During 2011, Baird paid dividends to its stockholders of...
Stahl Company paid $7,800 on May 1, 2008 for insurance coverage for a one year period...
Stahl Company paid $7,800 on May 1, 2008 for insurance coverage for a one year period beginning that date. The adjusting entry required to recognize insurance expense on December 31, 2008 would have what effect on the financial statements? = = B) Assets (2.600) (2600) (5.200) (5.200) L inh NA NA NA NA + + + + + Equity (2,600) 2600) (5,200) (5,200) Rev. NA VA NA NA Exp. 2.600 2600 5.200 3.200 Net In (2,600) (2600) (5,200) (5,200) Cash...
The following account balances were drawn from the financial statements of Grayson Company 3 $1,450 Cash...
The following account balances were drawn from the financial statements of Grayson Company 3 $1,450 Cash Accounts receivable Land $4,800 $1,900 $8,400 Accounts payable Common stock Retained earnings, Jan. 1 Revenue Expenses $3,100 $9,900 $7,450 Ask Print Based on the above information, what is the balance of Common Stock for Grayson Company? Multiple Choice $8,100 $10.550 $650 $10,800
The following account balances were drawn from the Year 1 financial statements of Grayson Company: $...
The following account balances were drawn from the Year 1 financial statements of Grayson Company: $ 2,500 Cash Accounts receivable Land $ 8,800 Accounts payable $ 3,000 Common stock $ 16,000 Retained earnings, Jan. 1 Revenue Expenses $ 5,400 $19,000 $14,500 What is the balance of the Common Stock account? Multiple Choice $15,400 0 $19,900 < Prey 4 of 13 Next > Saved What is the balance of the Common Stock account? Multiple Choice Ο Ο Ο Ο < Prev...
8. The following selected account balances were drawn from the December 31, 2017 balance sheet and...
8. The following selected account balances were drawn from the December 31, 2017 balance sheet and income statement of Ulrich Company: Accounts Receivable Retained Earnings 750 2,600 Accounts Payable Revenues 500 5,400 Land Expenses 600 4,000 Cash Common Stock 2,800 ? Based on the above information, what is the balance of Common Stock for Ulrich Company? A. $ 750 B. $1,050 C. D. $1,550 $2,050
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 %3D Liabilities...
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 %3D Liabilities = $420 Common Stock = $500 %3D During 2011, Baird paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Baird's net income for the 2011 accounting period? The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,175; Common Stock = $5,000; Revenue = Retained Earnings = $6,200. $11,100; Dividends $830;...
was $3,900, expenses paid during the period were $2,050, and dividends paid during the period were...
was $3,900, expenses paid during the period were $2,050, and dividends paid during the period were $1,450. Based on this Information alone, what was the amount of retained earnings at the beginning of Year 22 At the end of Year 2, retained earnings for the Baker Company was $3,650. Revenue earned by the company in Year 2 Multiple Choice $7,800 $4,050 $1,800 3250
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities =...
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock $500 %3! During 2011, Baird paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Baird's net income for the 2011 accounting period?
At the end of 2011, retained earnings for the Bisk Company was $3,450. Revenue earned by the company in 2011 was $2,235, expenses paid during the period were $1,105, and dividends paid during the period were $525. Based on this information alone, retained earnings at the beginning of 2011 was Required information Cole Company began operations on January 1, 2011. During 2011, the company engaged in the following cash transactions: 1) issued stock for $30,000 2) borrowed $33,000 from its...
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by the company in 2011 was $2,600, expenses paid during the period were $1,135, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of 2011 was On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock = $500 During 2011, Baird paid dividends to its stockholders of...
Stahl Company paid $7,800 on May 1, 2008 for insurance coverage for a one year period beginning that date. The adjusting entry required to recognize insurance expense on December 31, 2008 would have what effect on the financial statements? = = B) Assets (2.600) (2600) (5.200) (5.200) L inh NA NA NA NA + + + + + Equity (2,600) 2600) (5,200) (5,200) Rev. NA VA NA NA Exp. 2.600 2600 5.200 3.200 Net In (2,600) (2600) (5,200) (5,200) Cash...
The following account balances were drawn from the financial statements of Grayson Company 3 $1,450 Cash Accounts receivable Land $4,800 $1,900 $8,400 Accounts payable Common stock Retained earnings, Jan. 1 Revenue Expenses $3,100 $9,900 $7,450 Ask Print Based on the above information, what is the balance of Common Stock for Grayson Company? Multiple Choice $8,100 $10.550 $650 $10,800
The following account balances were drawn from the Year 1 financial statements of Grayson Company: $ 2,500 Cash Accounts receivable Land $ 8,800 Accounts payable $ 3,000 Common stock $ 16,000 Retained earnings, Jan. 1 Revenue Expenses $ 5,400 $19,000 $14,500 What is the balance of the Common Stock account? Multiple Choice $15,400 0 $19,900 < Prey 4 of 13 Next > Saved What is the balance of the Common Stock account? Multiple Choice Ο Ο Ο Ο < Prev...
8. The following selected account balances were drawn from the December 31, 2017 balance sheet and income statement of Ulrich Company: Accounts Receivable Retained Earnings 750 2,600 Accounts Payable Revenues 500 5,400 Land Expenses 600 4,000 Cash Common Stock 2,800 ? Based on the above information, what is the balance of Common Stock for Ulrich Company? A. $ 750 B. $1,050 C. D. $1,550 $2,050
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 %3D Liabilities = $420 Common Stock = $500 %3D During 2011, Baird paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Baird's net income for the 2011 accounting period? The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,175; Common Stock = $5,000; Revenue = Retained Earnings = $6,200. $11,100; Dividends $830;...
was $3,900, expenses paid during the period were $2,050, and dividends paid during the period were $1,450. Based on this Information alone, what was the amount of retained earnings at the beginning of Year 22 At the end of Year 2, retained earnings for the Baker Company was $3,650. Revenue earned by the company in Year 2 Multiple Choice $7,800 $4,050 $1,800 3250
On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock $500 %3! During 2011, Baird paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Baird's net income for the 2011 accounting period?
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