Please show your steps in the calculations
Homework Answers
| BEGINNING R/E BALANCE | xxxxx |
| ADD: NET INCOME DURING THE YEAR | xxxxx |
| LESS: DIVIDENDS DISTRIBUTE | xxxxx |
| CLOSING R/E BALANCE | xxxxxx |
| YEAR | BEG. R/E BAL. (A) | NET INCOME (B) | DIVIDENDS (C) | END. R/E BAL.(D) |
| A = LAST YEAR END. BALANCE | B = D +C - A | C = A + B - D | D = A + B -C | |
| 1 | $ 0 | $ 2100 | $ 950 | $ 1150 (a) |
| 2 | $ 1150 (b) | $ 1750 (c) | $ 300 | $ 2600 |
| 3. | $ 2600 (d) | $ 2400 | $ 800 | $ 4200 (e) |
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Please show your steps in the calculations
6) Calculate the missing amounts: (Note: Year 1 End....
6) Calculate the missing amounts: (Note: Year 1 End. R/E will be year 2 Beg. R/E)...
6) Calculate the missing amounts: (Note: Year 1 End. R/E will be year 2 Beg. R/E) Year Beg. R/E Balance Net income Dividends End. R/E Balance $0 $2,100 $950 b. 300 2.600 2,400 | 800| e. 1 a. 2 3 7) Use the following selected data for STERLING Co. to prepare an income stmt. +& statement of retained earnings for 2019 (all accounts will not be used). Accounts payable 40,000 Notes payable 60.000 Accounts receivable 60,000 Rent expense 29,000 Advertising...
calculate missing amounts Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER...
calculate missing amounts
Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets $ 14,000 Cash 17,000 Inventory 38,000 Buildings $69,000 Total assets Liabilities and Stockholders' Equity Liabilities $ 5,600 Accounts payable Stockholders' Equity (a) Common stock Retained earnings (b) $69,000 Total liabilities and stockholders' equity CULLUMBER COMPANY Income Statement $85,400 Revenues (c) Cost of goods sold 10,270 Salaries and wages expense (d) Net income CULLUMBER COMPANY Retained Earnings Statement $19,000 Beginning retained...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. Complete this question...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. Complete this question by entering your answers in the tabs below. Stmt of Income Statement Stockholders Balance Sheet Equity Calculate the missing amounts. BULLDOG, INC. Income Statement Year ended Dec. 31, 2021 $ 38,000 Revenues Expenses Salaries 5,800 3,800 Advertising Utilities Net income Income Statement Stmt of Stockholders Equity> 2 Below are incomplete financial statements for Bulldog, Inc Required: Calculate the missing amounts 5 points Skipped Complete...
Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts....
Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by compl Stingray Company Income Statement For the Year Ended December 31, 2012 Sales.................. $ E N 625,000 Cost of goods sold Gross profit on sales. 265,000 S5 000 Administrative expenses Operating income Interest expense 9,000 76,400 Income tax expense de mine by 65,000 Net income Now fill in the missing amounts on the balance sheet Enter any number in the edit fields...
Solve for the missing amounts: Solve for amounts in boxes highlighted. 1 Presented below are incomplete...
Solve for the missing amounts:
Solve for amounts in boxes highlighted.
1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC. Income Statement For the Month Ended March 31,...
Required: Solve for the missing amounts. NOTE: When an amount on one financial statement is again...
Required: Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC Income Statement For the Month Ended March 31, 20X1 Sales Revenues $34,500 Expenses: Rent Expense Salaries Expense Utilities Expense Income Tax Expense 2,600 4,800 800 $4,100 Net income MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity...
Question 2 (3 marks - suggested time 4 minutes) Compute the missing amounts. (Show all your...
Question 2 (3 marks - suggested time 4 minutes) Compute the missing amounts. (Show all your calculations below) Moose Jaw Company Weyburn Company Sales $200,000 Cost of Goods Sold Beginning Inventory 60.000 Cost of Goods Manufactured 118,000 COGS Available for Sale 180,000 Ending Inventory 4000 4000 Cost of Goods Sold 120,000 Gross Margin 80,000 224,000 Selling and Admin Expenses 170,000 Operating Income 24,000 54,000 Question 3 (8 marks - suggested time 10 minutes) The following amounts were taken from the...
Questions 1-3 please. Searc Homework Questions 1) For each of the following companies, calculate the missing...
Questions 1-3 please.
Searc Homework Questions 1) For each of the following companies, calculate the missing amounts. Assets Liabilities Equity Parcel Corp. $100 $80 Box Inc. $230 $170 Bag Co. $45 $105 2) Ground Inc. had $100 of equity at the beginning of the year. During the year, Ground earned $30 of net income (profit) and paid $12 of cash dividends to its owners (shareholders). a) How do the net income and dividends affect equity? (i.e. do they increase it,...
Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC....
Below are incomplete financial statements for Cyclone,
Inc.
Required:
Calculate the missing amounts.
CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries | $ 11,600 Rent 5,600 Advertising 3,600 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Retained Earnings Total Stockholders' Equity $ 18,200 $ 12,600 $ 5,600 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 3,600 3,600 $ 14,200 $ 6,600 $ 20,800
1.calculate net income? 2.compute retain earnings at the end of accounting period? 3.contrast new trial balance...
1.calculate net income?
2.compute retain earnings at the end of accounting period?
3.contrast new trial balance after taking into consideration a and
b above?
4. what are retained earnings?
Note : please show all steps? e.g how calculate net
income etc
[The following information applies to the questions displayed below Shown below is a trial balance for Cornell Products, Inc., on adjusting entries: Il Products, Inc., on December 31, after $ 15,500 12,750 22,500 Cornell Products, Inc. Trial Balance December...
6) Calculate the missing amounts: (Note: Year 1 End. R/E will be year 2 Beg. R/E) Year Beg. R/E Balance Net income Dividends End. R/E Balance $0 $2,100 $950 b. 300 2.600 2,400 | 800| e. 1 a. 2 3 7) Use the following selected data for STERLING Co. to prepare an income stmt. +& statement of retained earnings for 2019 (all accounts will not be used). Accounts payable 40,000 Notes payable 60.000 Accounts receivable 60,000 Rent expense 29,000 Advertising...
calculate missing amounts
Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets $ 14,000 Cash 17,000 Inventory 38,000 Buildings $69,000 Total assets Liabilities and Stockholders' Equity Liabilities $ 5,600 Accounts payable Stockholders' Equity (a) Common stock Retained earnings (b) $69,000 Total liabilities and stockholders' equity CULLUMBER COMPANY Income Statement $85,400 Revenues (c) Cost of goods sold 10,270 Salaries and wages expense (d) Net income CULLUMBER COMPANY Retained Earnings Statement $19,000 Beginning retained...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. Complete this question by entering your answers in the tabs below. Stmt of Income Statement Stockholders Balance Sheet Equity Calculate the missing amounts. BULLDOG, INC. Income Statement Year ended Dec. 31, 2021 $ 38,000 Revenues Expenses Salaries 5,800 3,800 Advertising Utilities Net income Income Statement Stmt of Stockholders Equity> 2 Below are incomplete financial statements for Bulldog, Inc Required: Calculate the missing amounts 5 points Skipped Complete...
Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by compl Stingray Company Income Statement For the Year Ended December 31, 2012 Sales.................. $ E N 625,000 Cost of goods sold Gross profit on sales. 265,000 S5 000 Administrative expenses Operating income Interest expense 9,000 76,400 Income tax expense de mine by 65,000 Net income Now fill in the missing amounts on the balance sheet Enter any number in the edit fields...
Solve for the missing amounts:
Solve for amounts in boxes highlighted.
1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC. Income Statement For the Month Ended March 31,...
Required: Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC Income Statement For the Month Ended March 31, 20X1 Sales Revenues $34,500 Expenses: Rent Expense Salaries Expense Utilities Expense Income Tax Expense 2,600 4,800 800 $4,100 Net income MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity...
Question 2 (3 marks - suggested time 4 minutes) Compute the missing amounts. (Show all your calculations below) Moose Jaw Company Weyburn Company Sales $200,000 Cost of Goods Sold Beginning Inventory 60.000 Cost of Goods Manufactured 118,000 COGS Available for Sale 180,000 Ending Inventory 4000 4000 Cost of Goods Sold 120,000 Gross Margin 80,000 224,000 Selling and Admin Expenses 170,000 Operating Income 24,000 54,000 Question 3 (8 marks - suggested time 10 minutes) The following amounts were taken from the...
Questions 1-3 please.
Searc Homework Questions 1) For each of the following companies, calculate the missing amounts. Assets Liabilities Equity Parcel Corp. $100 $80 Box Inc. $230 $170 Bag Co. $45 $105 2) Ground Inc. had $100 of equity at the beginning of the year. During the year, Ground earned $30 of net income (profit) and paid $12 of cash dividends to its owners (shareholders). a) How do the net income and dividends affect equity? (i.e. do they increase it,...
Below are incomplete financial statements for Cyclone,
Inc.
Required:
Calculate the missing amounts.
CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries | $ 11,600 Rent 5,600 Advertising 3,600 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Retained Earnings Total Stockholders' Equity $ 18,200 $ 12,600 $ 5,600 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 3,600 3,600 $ 14,200 $ 6,600 $ 20,800
1.calculate net income?
2.compute retain earnings at the end of accounting period?
3.contrast new trial balance after taking into consideration a and
b above?
4. what are retained earnings?
Note : please show all steps? e.g how calculate net
income etc
[The following information applies to the questions displayed below Shown below is a trial balance for Cornell Products, Inc., on adjusting entries: Il Products, Inc., on December 31, after $ 15,500 12,750 22,500 Cornell Products, Inc. Trial Balance December...
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