Homework Answers
| *Retained earnings = Total assets - Total liablities - Common stock | ||
| $40,100 - $17,600 - $11,000 | ||
| $11,500 |
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how do i find the retained earnings?
Exercise 1-8A Prepare a balance sheet (LO1-3) Wolfpack Construction...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $19,500 1,700 26,500 11,000 11,500 13,500 32,500 4,700 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment...
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment $ 19,000 Accounts payable 1,600 Salaries expense 26,000 Common stock 12,000 Land 11,000 Notes payable 13,000 Service revenue 32,000 Cash 4,600 Retained earnings ? Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet Assets Liabilities Total liabilities Stockholders’ Equity Total stockholders’ equity Total assets Total liabilities and stockholders’ equity
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $26,000 3,000 33,000 11,000 18,000 20,000 39,000 6,000 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities UNI Retained earnings Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities 11...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $16,500 1,100 23,500 11,000 8,500 10,500 29,500 4,100 Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Liabilitie / / / / / Total liabilities / Stockholders' Equity / Total assets Total stockholders' equity Total liabilities and stockholders' equity S 0
Wolfpack Construction has the following account balances at the end of the year Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $23,eee 2,400 3e. 11,eee 15,000 17,000 36.000 5.4ee Required: Use only the appropriate accounts to prepare a balance sheet WOLFPACK CONSTRUCTION Balance Sheet December 31 Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity
0.12 points Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash...
0.12 points Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $26,000 3,000 33,000 11,000 18,000 20,000 39,000 6,000 eBook Required: Use only the appropriate accounts to prepare a balance sheet. Hint WOLFPACK CONSTRUCTION Balance Sheet December 31 Print Assets Liabilities $ 3,0 $ References Cash Land Equipment 6,000 Accounts payable 18,000 Notes payable 20,0 26,000 Total liabilities Stockholders' Equity Common stock Retained earnings 16. Total stockholders' equity null $
Exercise 1-11A Link the statement of stockholders' equity to the balance sheet (LO1-3) At the beginning...
Exercise 1-11A Link the statement of stockholders' equity to the balance sheet (LO1-3) At the beginning of 2021, Artichoke Academy reported a balance in common stock of $155,000 and a balance in retained earnings of $55,000. During the year, the company issued additional shares of stock for $45,000, earned net income of $35,000, and paid dividends of $10,500. In addition, the company reported balances for the following assets and liabilities on December 31. Assets Cash Supplies Prepaid rent Land $...
Prepare a Trial Balance, Multi Step Income Statement, Retained Earnings Statement, and Classified Balance Sheet the...
Prepare a Trial Balance, Multi Step Income
Statement, Retained Earnings Statement, and Classified Balance
Sheet
the
values needed are all the way on the left in the photo. i started
the trial balance (the green chart) but could not get both sides to
equal.
ACCT 251 EXCEL ASSIGNMENT - PREPARING FINANCIAL STATEMENTS IN EXCEL (see instructions tab for detailed instructions) Prepare a multi-step income statement: Prepare a retained earnings statement: Prepare a classified balance sheet: 1,001,360 101,360 591,680 Service Revenue...
WHOLLUISUULUUIOS LIETUVIN OLLUUII UOIO Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service...
WHOLLUISUULUUIOS LIETUVIN OLLUUII UOIO Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $17,500 1,300 24,500 12,000 9,500 11,500 30,500 4,300 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets s Cash 4,300 Accounts payable Equipment Total liabilities Stockholders' Equity 12,000 Common stock Retained earnings + Total stockholders' equity Total liabilities and stockholders' equity 12.000 13,300 Total assets $ 21,800 $
Prepare the income statement, statement of retained earnings and balance sheet for the following company: Debits...
Prepare the income statement, statement of retained earnings and balance sheet for the following company: Debits Credits Cash $15,500 Accounts Receivable 4,500 Equipment 45,000 Accumulated depreciation $5,000 Accounts Payable 4,000 Unearned revenue 1,200 Salaries Payable 2,000 Interest payable 1,200 Notes Payable 20,000 Capital Stock 30,000 Revenue 32,800 Salaries expense 17,000 Advertising expense 5,000 Fuel expense 2,000 Depreciation expense 5,000 Interest expense 1,200 Dividends 1,000 $96,200 $96,200
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $19,500 1,700 26,500 11,000 11,500 13,500 32,500 4,700 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $26,000 3,000 33,000 11,000 18,000 20,000 39,000 6,000 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities UNI Retained earnings Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities 11...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $16,500 1,100 23,500 11,000 8,500 10,500 29,500 4,100 Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Liabilitie / / / / / Total liabilities / Stockholders' Equity / Total assets Total stockholders' equity Total liabilities and stockholders' equity S 0
Wolfpack Construction has the following account balances at the end of the year Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $23,eee 2,400 3e. 11,eee 15,000 17,000 36.000 5.4ee Required: Use only the appropriate accounts to prepare a balance sheet WOLFPACK CONSTRUCTION Balance Sheet December 31 Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity
0.12 points Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $26,000 3,000 33,000 11,000 18,000 20,000 39,000 6,000 eBook Required: Use only the appropriate accounts to prepare a balance sheet. Hint WOLFPACK CONSTRUCTION Balance Sheet December 31 Print Assets Liabilities $ 3,0 $ References Cash Land Equipment 6,000 Accounts payable 18,000 Notes payable 20,0 26,000 Total liabilities Stockholders' Equity Common stock Retained earnings 16. Total stockholders' equity null $
Exercise 1-11A Link the statement of stockholders' equity to the balance sheet (LO1-3) At the beginning of 2021, Artichoke Academy reported a balance in common stock of $155,000 and a balance in retained earnings of $55,000. During the year, the company issued additional shares of stock for $45,000, earned net income of $35,000, and paid dividends of $10,500. In addition, the company reported balances for the following assets and liabilities on December 31. Assets Cash Supplies Prepaid rent Land $...
Prepare a Trial Balance, Multi Step Income
Statement, Retained Earnings Statement, and Classified Balance
Sheet
the
values needed are all the way on the left in the photo. i started
the trial balance (the green chart) but could not get both sides to
equal.
ACCT 251 EXCEL ASSIGNMENT - PREPARING FINANCIAL STATEMENTS IN EXCEL (see instructions tab for detailed instructions) Prepare a multi-step income statement: Prepare a retained earnings statement: Prepare a classified balance sheet: 1,001,360 101,360 591,680 Service Revenue...
WHOLLUISUULUUIOS LIETUVIN OLLUUII UOIO Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $17,500 1,300 24,500 12,000 9,500 11,500 30,500 4,300 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets s Cash 4,300 Accounts payable Equipment Total liabilities Stockholders' Equity 12,000 Common stock Retained earnings + Total stockholders' equity Total liabilities and stockholders' equity 12.000 13,300 Total assets $ 21,800 $
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