Homework Answers
ALEXIS AND RYANS, ATTORNEYS AT LAW
Retained Earnings Statement
For the Year Ended December 31, 2019
| Retained earnings, January 1 | $23,000 |
| Add: Net income($340,000 – $211,000) | $129,000 |
| $152,000 | |
| Less: Dividends | $64,000 |
| Retained earnings, December 31 | $88,000 |
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Presented below is information related to Alexis and Ryans, Attorneys at Law. Retained earnings, January 1,...
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please explain the steps to solve Presented below is information related to Dean Plumley Company. 107,000...
please explain the steps to solve
Presented below is information related to Dean Plumley Company. 107,000 - 21,000 Retained earnings, January 1, 2018 Service revenue-2018 Total expenses-2018 Assets, January 1, 2018 Liabilities, January 1, 2018 Assets, December 31, 2018 Liabilities, December 31, 2018 Dividends-2018 $ 21,000 320,000 - 213.000 85,000 64,000 165,000 90,000 ? 800,000 Instructions Prepare the 2018 retained earnings statement for Dean Plumley Company
Question 2 (5 points) Presented following is information related to the sole proprietorship of Alice Henning,...
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Presented below is information related to the sole proprietorship of Susan Wilson, attorney.
Presented below is information related to the sole
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practice. (List items that increase owner's equity
first.)SUSAN WILSON, ATTORNEYOwner’s Equity Statement For the Year Ended December 31,
2020December 31, 2020For the Month Ended December 31, 2020 DrawingsExpensesNet Income /
(Loss)Owner’s Capital, January 1Owner’s Capital, December
31RevenuesTotal ExpensesTotal RevenuesInvestments$ AddLess: DrawingsExpensesNet Income /...
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BACK Exercise 1-6 Presented here is information for DeVito Inc. for 2014. Retained earnings, January 1...
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Question 1 Presented here is information for Sunland Company for 2017. Retained earnings, January 1 Service...
Question 1 Presented here is information for Sunland Company for 2017. Retained earnings, January 1 Service revenue Total expenses Dividends $161,200 496,000 217,000 80,600 Calculate the net income. Net income Prepare the 2017 retained earnings statement for Sunland Company. (List items that increase retained earnings first.) Sunland Company Retained Earnings Statement Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
Presented below is selected information pertaining to Pineapple Enterprises Ltd. for last year: Assets January 1...
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please explain the steps to solve
Presented below is information related to Dean Plumley Company. 107,000 - 21,000 Retained earnings, January 1, 2018 Service revenue-2018 Total expenses-2018 Assets, January 1, 2018 Liabilities, January 1, 2018 Assets, December 31, 2018 Liabilities, December 31, 2018 Dividends-2018 $ 21,000 320,000 - 213.000 85,000 64,000 165,000 90,000 ? 800,000 Instructions Prepare the 2018 retained earnings statement for Dean Plumley Company
Question 2 (5 points) Presented following is information related to the sole proprietorship of Alice Henning, attorney. Legal service revenue-2017 $335,000. Total expenses-2017 $211,000. Assets, January 1, 2017 $96,000. Liabilities, January 1, 2017 $62,000. Assets, December 31, 2017 $168,000. Liabilities, December 31, 2017 $100,000. Drawings-2017 S? Prepare the 2017 owner's equity statement for Alice Henning's legal practice. Name Student ID... Question 3 (5 points) Halladay Enterprises had the following selected transactions. 1. Bo Halladay invested $4,000 cash in the business....
Presented below is information related to the sole
proprietorship of Susan Wilson, attorney.Legal service revenue—2020$337,000Total expenses—2020207,000Assets, January 1, 202093,000Liabilities, January 1, 202054,000Assets, December 31, 2020170,000Liabilities, December 31, 2020105,000Drawings—2020?Prepare the 2020 owner’s equity statement for Susan Wilson’s legal
practice. (List items that increase owner's equity
first.)SUSAN WILSON, ATTORNEYOwner’s Equity Statement For the Year Ended December 31,
2020December 31, 2020For the Month Ended December 31, 2020 DrawingsExpensesNet Income /
(Loss)Owner’s Capital, January 1Owner’s Capital, December
31RevenuesTotal ExpensesTotal RevenuesInvestments$ AddLess: DrawingsExpensesNet Income /...
Presented below is information related to Farr Company. Retained earnings, December 31, 2014 Sales revenue Selling and administrative expenses Hurricane loss (pre-tax) on plant (extraordinary item) Cash dividends declared on common stock Cost of goods sold Gain resulting from computation error on depreciation charge in 2013 (pre-tax) Other revenue Other expenses $ 650,000 1,500,000 240,000 290,000 33,600 880,000 520,000 120,000 100,000 Instructions On the next page, prepare in good form a multiple-step income statement for the year 2015. Assume a...
BACK Exercise 1-6 Presented here is information for DeVito Inc. for 2014. Retained earnings, January 1 Service revenue Total expenses Dividends $154,687 475,960 208,233 7344 Calculate the net income. LINE TO TEXT Prepare the 2014 retained earnings statement for DeVito Inc. (List items that increase retained earnings first.) DEVITO INC Retained Earnings Statement For the Year Ended December 31, 2014 Click if you would like to Show Work for this questions Open Show Work vineo sw Question Attempts: 0 of...
Presented below is information related to Meister Company for the 2019 year-end. Retained earings balance, January 1, 2019 Sales revenue Cost of goods sold Interest revenue Selling expenses General and administrative expenses Write-off of goodwill Loss on the sale of equipment Interest expense Loss due to hurricane damage in New York (Gross) Gain on the disposition of the retail division (Gross) Loss on operations of the retail division (Gross) Dividends declared on common stock Dividends declared on preferred stock Loss...
Question 1 Presented here is information for Sunland Company for 2017. Retained earnings, January 1 Service revenue Total expenses Dividends $161,200 496,000 217,000 80,600 Calculate the net income. Net income Prepare the 2017 retained earnings statement for Sunland Company. (List items that increase retained earnings first.) Sunland Company Retained Earnings Statement Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
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