Homework Answers
Answer
$ 3,200
Explanation:
Retained earning are the the reservsor total savings of the enterprise.
Retained earnings includes
Reserves
Surplus (Profit fot the year)
Reserves = Sales - Expenses - Dividends
= $ 26,000 + $ 15,000 - $ 22,000 - $ 1,800 - $ 14,000
= $ 3,200
In case of any doubt or clarification, you're welcome to come back via comments.
Add Answer to:
Warren Enterprises had the following events during Year 1: The business issued $30,000 of common stock...
Warren Enterprises had the following events during 2016: The business issued $26,000 of common stock to...
Warren Enterprises had the following events during 2016: The business issued $26,000 of common stock to its stockholders. The business purchased land for $18,000 cash. Services were provided to customers for $22,000 cash. Services were provided to customers for $11,000 on account. The company borrowed $22,000 from the bank. Operating expenses of $18,000 were incurred and paid in cash. Salary expense of $1,400 was accrued. A dividend of $10,000 was paid to the stockholders of Warren Enterprises. Assuming the company...
Warren Enterprises had the following events during Year 1: The business issued $22,000 of common stock...
Warren Enterprises had the following events during Year 1: The business issued $22,000 of common stock to its stockholders. The business purchased land for $14,000 cash. Services were provided to customers for $18,000 cash. Services were provided to customers for $7,000 on account. The company borrowed $18,000 from the bank. Operating expenses of $14,000 were incurred and paid in cash. Salary expense of $1,000 was accrued. A dividend of $6,000 was paid to the stockholders of Warren Enterprises. Assuming the...
Warren Enterprises began operations during Year 1. The company had the following events during Yeart •...
Warren Enterprises began operations during Year 1. The company had the following events during Yeart • The business issued $23,000 of common stock to its stockholders. • The business purchased land for $15,000 cash • Services were provided to customers for $19,000 cash • Services were provided to customers for $8,000 on account • The company borrowed $19,000 from the bank • Operating expenses of $15.000 were incurred and paid in cash • Salary expense of $1100 was accrued •...
10. Yowell Company began operations on January 1. Year 1. During Year 1, the company engaged...
10. Yowell Company began operations on January 1. Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $42,000 2) borrowed $26,000 from its bank 3) provided consulting services for $40,000 cash 4) paid back $16,000 of the bank loan 5) paid rent expense for $9500 6) purchased equipment for $13,000 cash 7) paid $3100 dividends to stockholders 8) paid employees' salaries of $22,000 What is Yowell's net income for Year 1? A)...
Olive Enterprises experienced the following events during 2016: 1. Acquired cash from the issue of common...
Olive Enterprises experienced the following events during 2016: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate which of the above events occur in the equation by selecting the letter "1" for increase, the...
During January, Your Company engaged in the following cash transactions: 1) issued stock for $30,000 2)...
During January, Your Company engaged in the following cash transactions: 1) issued stock for $30,000 2) borrowed $45,000 from its bank 3) provided services for $32,000 cash 4) paid back $10,000 of the bank loan 5) paid employees' salaries, $2,000 6) purchased supplies for $3,000 7) paid $5,000 dividends to stockholders What is the net cash flow from financing activities for January? Group of answer choices
Nelson Company experienced the following transactions during Year 1, its first year in operation 1. Issued...
Nelson Company experienced the following transactions during Year 1, its first year in operation 1. Issued $12,000 of common stock to stockholders. 2. Provided $4,600 of services on account. 3. Paid $3,200 cash for operating expenses. 4. Collected $3,800 of cash from accounts receivable. 5. Paid a $200 cash dividend to stockholders. The amount of net cash flow from operating activities shown on Nelson Company's Year 1 statement of cash flows is Multiple Choice $400 $600. $1,400 $1,200
Joe Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following...
Joe Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books 1. Jackson invested $27,000 cash in the business in exchange for common stock 2. Jackson contributed $102,000 of equipment to the business. 3. The company paid $2.200 cash to rent office space for the month of March. 4. The company received $18,000 cash for repair services provided during March. 5. The company paid $6.400 for...
Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Issued...
Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Issued $8,800 of common stock to stockholders. 2. Provided $5,100 of services on account. 3. Paid $2,300 cash for operating expenses. 4. Collected $3,300 of cash from accounts receivable. 5. Paid a $240 cash dividend to stockholders. The amount of net income recognized on Nelson Company's Year 1 income statement is: Multiple Choice $2,800. $2,040 $1,800 $2,560
Maben Company was started on January 1, Year 1, and experienced the following events during its...
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $29,000 cash from the issue of common stock. Borrowed $41,000 cash from National Bank. Earned cash revenues of $57,000 for performing services. Paid cash expenses of $49,500. Paid a $1,900 cash dividend to the stockholders. Acquired an additional $29,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid...
Warren Enterprises began operations during Year 1. The company had the following events during Yeart • The business issued $23,000 of common stock to its stockholders. • The business purchased land for $15,000 cash • Services were provided to customers for $19,000 cash • Services were provided to customers for $8,000 on account • The company borrowed $19,000 from the bank • Operating expenses of $15.000 were incurred and paid in cash • Salary expense of $1100 was accrued •...
10. Yowell Company began operations on January 1. Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $42,000 2) borrowed $26,000 from its bank 3) provided consulting services for $40,000 cash 4) paid back $16,000 of the bank loan 5) paid rent expense for $9500 6) purchased equipment for $13,000 cash 7) paid $3100 dividends to stockholders 8) paid employees' salaries of $22,000 What is Yowell's net income for Year 1? A)...
Olive Enterprises experienced the following events during 2016: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate which of the above events occur in the equation by selecting the letter "1" for increase, the...
Nelson Company experienced the following transactions during Year 1, its first year in operation 1. Issued $12,000 of common stock to stockholders. 2. Provided $4,600 of services on account. 3. Paid $3,200 cash for operating expenses. 4. Collected $3,800 of cash from accounts receivable. 5. Paid a $200 cash dividend to stockholders. The amount of net cash flow from operating activities shown on Nelson Company's Year 1 statement of cash flows is Multiple Choice $400 $600. $1,400 $1,200
Joe Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books 1. Jackson invested $27,000 cash in the business in exchange for common stock 2. Jackson contributed $102,000 of equipment to the business. 3. The company paid $2.200 cash to rent office space for the month of March. 4. The company received $18,000 cash for repair services provided during March. 5. The company paid $6.400 for...
Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Issued $8,800 of common stock to stockholders. 2. Provided $5,100 of services on account. 3. Paid $2,300 cash for operating expenses. 4. Collected $3,300 of cash from accounts receivable. 5. Paid a $240 cash dividend to stockholders. The amount of net income recognized on Nelson Company's Year 1 income statement is: Multiple Choice $2,800. $2,040 $1,800 $2,560
Most questions answered within 3 hours.
-
If a trust has income required to be distributed of $11,500,
other amounts paid or required...
asked 14 minutes ago -
The degree of ionization of a weak acid
____________________.
Select all that are True.
a) varies...
asked 14 minutes ago -
Cereal for Breakfast. A cereal company claims
70% of Americans start the day with cereal for...
asked 15 minutes ago -
An elevator has a placard stating that the maximum capacity is
2400 lblong dash15 passengers. So,...
asked 17 minutes ago -
two charged proteins P1 and P2 are located at the positions
(1m,1m) and (-1m,1m) respectively on...
asked 28 minutes ago -
eBook
Calculator
Job Order Cost Sheet
Remnant Carpet Company sells and installs commercial carpeting
for office...
asked 33 minutes ago -
Using Kapustinskii equation, determine the lattice energy of a
hypothetical compound NaCl2 . Assume the sum...
asked 35 minutes ago -
Most schools and
businesses require some standard style of documentation for written
reports. Discuss why might...
asked 33 minutes ago -
cookbooks are going metric. in such books 1 cup is equal to 240
ml. Express 1...
asked 36 minutes ago -
________40. Which of the following is the correct sequence of
steps in the general
adaptation...
asked 44 minutes ago -
Hi, Please draw the network diagram.
Activity D on a CPM network has predecessors B and...
asked 46 minutes ago -
Explain how bacteria can be used in Food production
Explain the fermentation of Milk & Cheese...
asked 51 minutes ago