Question

Statement of Retained Earnings e following items, provide the missing number. For the following Retained Earnings, 1/127 Net income Subtotal Dividends Retained Earnings, 12/31/27 $250.000 83.000 $333,000 $283.000 5-6. Statement of Retained Earnings For the following items, provide the missing number. Retained Earnings, 1/1/28 Net income Subtotal Dividends Retained Earnings, 12/31/28 958,000 $2,783,400 500,000 $2,283,400 5-7. Statement of Retained Earnings. For the following items, provide the missing number. Retained Earnings, 1/1/28 Net income Subtotal Dividends Retained Earnings, 12/31/28 $983,123 43,000 $1,026,123 1026 173 50,000 5-8. Statement of Retained Earnings. For the following items, provide the missing number $575,603 Retained Earnings, 1/1/29 Net loss Subtotal Dividends Retained Earnings, 12/31/29 Closing entries. S498,667 10,000 $488.667 5-9.

Answer 1

5-5) Dividend = Beginning balance+Net income-Ending balance = 250000+83000-283000 = 50000

5-6) Beginning balance = Ending balance+Dividend-Net income = 2283400+500000-958000 = 1825400

5-7) Ending balance = Beginning balance+Net income-Dividend = 983123+43000-50000 = 976123

5-8) Net loss = Beginning balance-Dividend-Ending balance = 575603-10000-488667 = -76936