Homework Answers
Fees earned = $405,000
Sales revenue = $29,000
Total revenue = Fees earned+ Sales revenue
= 405,000+29,000
= $434,000
The total revenues are for the year ended December 31, 2020 is $434,000
First option is correct.
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increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
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