Correct Option is $1,000
Explanation:Net Income on Carolina's Year 1 Income Statement
Net Income = Revenue - Expenses
= $3,200 - $2,200
= $1,000.
(NOTE: The net income will be added in the retained earnings in the shareholder's equity section of balance sheet)
16 The following pre-closing accounts and balances were drawn from the records of Carolina Company on...
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 2: Cash Dividends Land Accounts payable $ 4,000 Accounts receivable 2,000 Common stock 3,200 Revenue 1,800 Expense $ 3,400 3,900 3,200 2,200 What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2? Multiple Choice O $5,900 O $7,200 O O $3,900 O $4,900
uiz Saved Help Save & Exit The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common stock Revenue Expense $3,400 $3,900 $3,200 $2,200 Total assets on Carolina's December 31, Year 1 balance sheet would amount to: Multiple Choice $12,600 $13,800 $7.200. $10,600
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $ 1,600 Accounts receivable 800 Common stock 1,100 Revenue 600 Expense $ 1,000 1,275 1,100 700 What is net income that will be shown on Carolina's Year 1 income statement? Multiple Choice $400 Multiple Choice $400 $700 $200 $1,100
10 The following accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $ 4,000 $ 2,000 $ 3,200 $ 1,800 Accounts receivable Common stock Revenue Expense $ 3,400 $ 3.900 $ 3,200 $ 2,200 Total assets on Carolina's December 31. Year 1 balance sheet would amount to: I Edit Insert Format Tools Table 12pt Paragraph в I o Av т?,
solve for net income, liablilities , assets, retained earnings 10 The following accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $ 4,000 $ 2,000 $ 3,200 $ 1,800 Accounts receivable Common stock Revenue Expense $ 3,400 $ 3,900 $ 3,200 $ 2,200 Total assets on Carolina's December 31. Year 1 balance sheet would amount to: 1 Edit Insert Format Tools Table 12pt Paragraph В І од е...
The following accounts and balances were drawn from the records of Carolina Compon Dan Cash Dividends Land Accounts payable $ 4,000 $ 2.000 $ 3.200 $ 1.800 Accounts receivable Common stock Revenue Expense $ 3.400 $ 3,900 $ 3.200 $ 2.200 The amount of Carolina's retained earnings after closing on December 31, Year 1 was: Edit Insert Format Tools Table 12pt Paragraph BI U ALTO
The following accounts and balances were drawn from the records of Hoover Company on December 31, 2013 Cash $1,150 $2200 Accounts Receivable 1.100 Common Stock 1,400 Revenue 750 | Expense Dividends Land Accounts Payable 1,575 1.400 850 The amount of retained earnings as of January 1, 2014 was. Multiple Choice $2.975 $2.425
The following accounts and balances were drawn from the records Your Company. What is the total for assets? Cash $800 Accounts Receivable $900 Dividends $150 Common Stock $1,200 Land $700 Revenue $600 Accounts Payable $1,000 Expense $250
The following accounts and balances were drawn from the records of Hoover Company on December 31, 2019. Cash $ 500 Accounts Receivable $ 900 Dividends $ 300 Common Stock $1,950 Land $1,000 Revenue $ 800 Accounts Payable $ 450 Expense $ 250 Total assets on the December 31, 2019 Balance sheet would be: a. $2,300 b. $2,400 c. $1,950 d. $1,500
< Question 4 (of 50) The following accounts and balances were drawn from the records of Hoover Compa on December 31, 20 Cash Dividends Land Accounts Payable $1,400 700 1,000 550 Accounts Receivable Common Stock Revenue Expense $950 175 1000 650 Total assets on the December 31, 2013 balance sheet would amount to: $4,050 $3,350 O $2,400 $4,350 MacBook Air 802 ģ