Homework Answers
The actual formula is = Beginning balance of Retained Earnings + Net Income (- Net Loss) - Dividends = Ending balance of Retained Earnings
Last year's (2016) ending balance of Retained Earnings will be the beginning balance of Retained Earnings in current year (2017).
| 2016 | |
| Beginning balance of Retained Earnings | $189,089 |
| Less: Net Loss ($189,089 - $169,634) | ($19,455) |
| $169,634 | |
| Less: Dividends | $0 |
| Ending balance of Retained Earnings | $169,634 |
| 2017 | |
| Beginning balance of Retained Earnings | $169,634 |
| Add: Net Income | $48,192 |
| $217,826 | |
| Less: Dividends | ($15,060) |
| Ending balance of Retained Earnings | $202,766 |
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Defermining Missing Informaon USmng the Use knowledge of accounting relations to complete the following table for...
Question 1 Partially correct Mark 1.00 out of 3.00 P Flag question orce Central d States...
Question 1 Partially correct Mark 1.00 out of 3.00 P Flag question orce Central d States sites -S 2020 Determining Missing Information Using the Accounting Equation Use your knowledge of accounting relations to complete the following table for Boatsman Company. 2019 Beginning retained earnings $189,089 $ 169,634 * Net income (loss) (19,455) 48,192 Dividends 15,060 Ending retained earnings $169,634 202,766 x Guide ettings 0 ve Check arks Partially correct Marks for this submission: 1.00/3.00
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following...
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company Company A B с D Company E December 31, 2016 Assets $ 44,000 36,080 $ 34,320 24,024 $ 28,160 15,206 $78,320 54,040 $ 120, 120 ? 49,000 ? 35, 280 23,990 ? 16,086 89, 180 42,806 135, 240 106,839 Liabilities December 31, 2017 Assets...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company A B Company с Company D $44,000 36,080 $ 34,320 24,024 $ 28,160 15, 206 $78,320 $ 120, 120 54,040 ? Dets December 31, 2016 Assets Liabilities comber December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (loss) Owner cash withdrawals 49,000...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (los) Owner cash withdrawal Company Company Company Company Company A B c D E $44,000 $34,320 $28,160 $ 79,320 $120,120 36,080 24,024 15,206 54,040 ? 49,000 35,280 ? 89, 180 135,240...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information applies to the questions displayed below The following financial statement information Is from five separate companies: Company Company Company Company Company December 31, 2816 $36,000 $28,088 $23,eab $64,080 $ 98,280 Assets Liabilities sk 29,528 19,656 12,441 44,215 December 31, 2017 74,620 113,16e 20,073 13,460 35,817 89,396 rint Assets Liabilities 41,880 29,528 During year 2017 Owner investments Net income (loss) Owner cash withdravals 3,580 2,800...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Company Total Revenues 61.800 Total Expenses Total Assets Net Income (Loss) 20.900 (26,400) Total Liabilities $ 34,800 Stockholders' Equity $ 67,800 39.800 Vanilla Co Chocolate, Inc Strawberry Co 109,000 10,900 133,600 61.800 31,800 40.900
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Company Total Revenues Total Expenses Total Assets $ 60,900 Vanilla Co. Chocolate, Inc. Strawberry Co. Net Income (Loss) $ 20,450 (28,200) Total Stockholders' Liabilities Equity $ 33,900S 66,900 38,900 40,450 104,500 10,450 131,800 60,900 30,900
please, with explaining the answer Using your accounting knowledge, find the missing amounts in the following...
please, with explaining the
answer
Using your accounting knowledge, find the missing amounts in the following separate income statements. Answer is not complete. b $ 66,000 $ 44,600 $ 47,000 $ 87,800 $ 25,300 8,900 16,990 7,900 4,330 5,900 44,700 39,000 5,910 41,000 5,000 Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) 7.700 14,000 33,900 32,100 10,000 2,900 20,000 24,600 10,310 14,290...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the...
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The records of Meehan Company show the following at December 31, 2018: '(Click the icon to...
The records of Meehan Company show the following at December 31, 2018: '(Click the icon to view the data.) 3. Print Read the requirements. Requirement 1. Compute the missing amount for Meehan Company. You will need to determine Retained Eamings, December 31,2018, and total stockholders' equity, December 31,2018. Begin by determining total stockholders' equity. Rework the accounting equation and then solve for stockholders' equity ("equity") at the beginning and end of the period. (1) (2) Equlty Beginning Ending Identify the...
Question 1 Partially correct Mark 1.00 out of 3.00 P Flag question orce Central d States sites -S 2020 Determining Missing Information Using the Accounting Equation Use your knowledge of accounting relations to complete the following table for Boatsman Company. 2019 Beginning retained earnings $189,089 $ 169,634 * Net income (loss) (19,455) 48,192 Dividends 15,060 Ending retained earnings $169,634 202,766 x Guide ettings 0 ve Check arks Partially correct Marks for this submission: 1.00/3.00
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company Company A B с D Company E December 31, 2016 Assets $ 44,000 36,080 $ 34,320 24,024 $ 28,160 15,206 $78,320 54,040 $ 120, 120 ? 49,000 ? 35, 280 23,990 ? 16,086 89, 180 42,806 135, 240 106,839 Liabilities December 31, 2017 Assets...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company A B Company с Company D $44,000 36,080 $ 34,320 24,024 $ 28,160 15, 206 $78,320 $ 120, 120 54,040 ? Dets December 31, 2016 Assets Liabilities comber December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (loss) Owner cash withdrawals 49,000...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (los) Owner cash withdrawal Company Company Company Company Company A B c D E $44,000 $34,320 $28,160 $ 79,320 $120,120 36,080 24,024 15,206 54,040 ? 49,000 35,280 ? 89, 180 135,240...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information applies to the questions displayed below The following financial statement information Is from five separate companies: Company Company Company Company Company December 31, 2816 $36,000 $28,088 $23,eab $64,080 $ 98,280 Assets Liabilities sk 29,528 19,656 12,441 44,215 December 31, 2017 74,620 113,16e 20,073 13,460 35,817 89,396 rint Assets Liabilities 41,880 29,528 During year 2017 Owner investments Net income (loss) Owner cash withdravals 3,580 2,800...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Company Total Revenues 61.800 Total Expenses Total Assets Net Income (Loss) 20.900 (26,400) Total Liabilities $ 34,800 Stockholders' Equity $ 67,800 39.800 Vanilla Co Chocolate, Inc Strawberry Co 109,000 10,900 133,600 61.800 31,800 40.900
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Company Total Revenues Total Expenses Total Assets $ 60,900 Vanilla Co. Chocolate, Inc. Strawberry Co. Net Income (Loss) $ 20,450 (28,200) Total Stockholders' Liabilities Equity $ 33,900S 66,900 38,900 40,450 104,500 10,450 131,800 60,900 30,900
please, with explaining the
answer
Using your accounting knowledge, find the missing amounts in the following separate income statements. Answer is not complete. b $ 66,000 $ 44,600 $ 47,000 $ 87,800 $ 25,300 8,900 16,990 7,900 4,330 5,900 44,700 39,000 5,910 41,000 5,000 Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) 7.700 14,000 33,900 32,100 10,000 2,900 20,000 24,600 10,310 14,290...
Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Total Total Company Total Revenues S 61.400 Expenses Vanilla Co. Net Income (Loss) 20.700 (27,200) Total Assets Liabilities IS 34.400 132.800 61,400 40.700 Stockholders' Equity S 67.400 39,400 Chocolate, Inc. Strawberry Co. 107.000 10.700 31.400
The records of Meehan Company show the following at December 31, 2018: '(Click the icon to view the data.) 3. Print Read the requirements. Requirement 1. Compute the missing amount for Meehan Company. You will need to determine Retained Eamings, December 31,2018, and total stockholders' equity, December 31,2018. Begin by determining total stockholders' equity. Rework the accounting equation and then solve for stockholders' equity ("equity") at the beginning and end of the period. (1) (2) Equlty Beginning Ending Identify the...
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