A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was...
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $120,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $45,000, and all other expenses totaled $10,000. The company declared and paid $27,000 as dividends. The ending balance of Retained Earnings would be ________.
a. $118,000
b. $145,000
c. $120,000
d. $172,000
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A merchandiser uses a perpetual inventory system. The beginning
Retained Earnings balance of the merchandiser was...
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was...
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $130,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $45,000, and all other expenses totaled $10,000. The company declared and paid $27,000 as dividends. The ending balance of Retained Earnings would be ________. A.) 128,000 B.) 155,000 C.) 182,000 D.) 130,000
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was...
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $120,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $40,000, and all other expenses totaled $10,000. The company declared and paid $25,000 as dividends. The ending balance of Retained Earnings would be O A. $150,000 OB. $125,000 O C. $175,000 OD. $120,000
A merchandiser uses a perpetual inventory system. The beginning Owner, Capital balance of the merchandiser was...
A merchandiser uses a perpetual inventory system. The beginning Owner, Capital balance of the merchandiser was $95,000. During the year, Sales Revenue amounted to $80,000, Sales Returns and Allowances were $1,300, Sales Discounts were $2,700, Cost of Goods Sold was $40,000, and all other expenses totaled $13,000. The company paid $24,000 in withdrawals to the owner. The last step in the closing process would include ________. Group of answer choices A. a debit to Income Summary for $57,000 B. a...
explain, please how? *5.4-16a A merchandiser uses a perpetual inventory system. The beginning Owner, Capital balance...
explain, please how?
*5.4-16a A merchandiser uses a perpetual inventory system. The beginning Owner, Capital balance of the merchandiser was $103,000. During the year, Sales Revenue amounted to $73,000, Sales Returns and Allowances were $2,000, Sales Discounts were $2,100, Cost of Goods Sold was $37,000, and all other expenses totaled $10,000. The company paid $19,000 in withdrawals to the owner. The last step in the closing process would include A. a debit to Income Summary for $51,100 a debit to...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory The company paid the whipper 31.500 cash for fight in the company de uma p alinvertorys ) OA $70,020 OB. 573.500 Oc567 OD 75000Cost of A merchandiser uses a perpetual inventory system. The beginning Retained Earings balance of the merchandiser was 3140.000. During the year, S e vere amounted...
Information provided to complete statement of retained earnings and balance sheet Meyer's Home Supply Company Worksheet...
Information provided to complete statement of retained earnings
and balance sheet
Meyer's Home Supply Company Worksheet December 31, 2020 Account Cash Accounts Receivable Office Supplies Prepaid Store Insurance Inventory Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Salaries Payable Unearned Revenue Note Payable (Due in 3 years) Common Stock Retained Earnings Dividends Sales Sales Returns and Allowances Cost of Goods Sold Advertising Expense Depriciation Expense - Office Equipment Depreciation Expense - Store...
Question 14 O out of 5.88 points Tom Company (which uses a perpetual inventory system) has...
Question 14 O out of 5.88 points Tom Company (which uses a perpetual inventory system) has the following account balances after adjusting entries at December 31, 2012: Cash Merchandise Inventory (12/31/2012) Equipment Accounts Receivable Common Stock ($.50 par) Sales Rent Expense Bonds Payable (due 2040) Accounts Payable Dividends Treasury Stock, Common (19,000 shares) Preferred Stock 6% ($10 par) Land Paid-in Capital in Excess of Par Value, Preferred Cost of Goods Sold Interest Expense Unearned Revenue $227,000 100,000 120,000 105,000 350,000...
Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems...
Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems at March 31, 2018, follows: (Click the icon to view the adjusted trial balance.) Prepare Discount's single-step income statement for the year ended March 31, 2018 Revenues: Net Sales Revenue Expenses: Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Expenses Net Income (Loss) Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes...
A company had a beginning balance in retained earnings of $400,000. It had net income of...
A company had a beginning balance in retained earnings of $400,000. It had net income of $50,000 and declared and paid cash dividends of $55,000 in the current period. The ending balance in retained earnings equals: Multiple Choice O $505,000 о $455,000. о $350,000.
1. Restridtions of retained earnings may be dasified as a. legal. d. All of these choices...
1. Restridtions of retained earnings may be dasified as a. legal. d. All of these choices are correct. 2. A corporation has a $500,000 beginning balance in Retained Earnings. Its net income for the year was $200,000. Sales revenue amounted to $1,000,000, and dividends declared and paid by year-end amounted to $100,000. What was the ending balance in Retained Earnings? a. $600,000 b. $1,400,000 c. $700,000 d. $1,200,000 3. On the balance sheet, the balance of Treasury Stock is c....
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $120,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $40,000, and all other expenses totaled $10,000. The company declared and paid $25,000 as dividends. The ending balance of Retained Earnings would be O A. $150,000 OB. $125,000 O C. $175,000 OD. $120,000
explain, please how?
*5.4-16a A merchandiser uses a perpetual inventory system. The beginning Owner, Capital balance of the merchandiser was $103,000. During the year, Sales Revenue amounted to $73,000, Sales Returns and Allowances were $2,000, Sales Discounts were $2,100, Cost of Goods Sold was $37,000, and all other expenses totaled $10,000. The company paid $19,000 in withdrawals to the owner. The last step in the closing process would include A. a debit to Income Summary for $51,100 a debit to...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory The company paid the whipper 31.500 cash for fight in the company de uma p alinvertorys ) OA $70,020 OB. 573.500 Oc567 OD 75000Cost of A merchandiser uses a perpetual inventory system. The beginning Retained Earings balance of the merchandiser was 3140.000. During the year, S e vere amounted...
Information provided to complete statement of retained earnings
and balance sheet
Meyer's Home Supply Company Worksheet December 31, 2020 Account Cash Accounts Receivable Office Supplies Prepaid Store Insurance Inventory Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Salaries Payable Unearned Revenue Note Payable (Due in 3 years) Common Stock Retained Earnings Dividends Sales Sales Returns and Allowances Cost of Goods Sold Advertising Expense Depriciation Expense - Office Equipment Depreciation Expense - Store...
Question 14 O out of 5.88 points Tom Company (which uses a perpetual inventory system) has the following account balances after adjusting entries at December 31, 2012: Cash Merchandise Inventory (12/31/2012) Equipment Accounts Receivable Common Stock ($.50 par) Sales Rent Expense Bonds Payable (due 2040) Accounts Payable Dividends Treasury Stock, Common (19,000 shares) Preferred Stock 6% ($10 par) Land Paid-in Capital in Excess of Par Value, Preferred Cost of Goods Sold Interest Expense Unearned Revenue $227,000 100,000 120,000 105,000 350,000...
Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems at March 31, 2018, follows: (Click the icon to view the adjusted trial balance.) Prepare Discount's single-step income statement for the year ended March 31, 2018 Revenues: Net Sales Revenue Expenses: Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Expenses Net Income (Loss) Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes...
A company had a beginning balance in retained earnings of $400,000. It had net income of $50,000 and declared and paid cash dividends of $55,000 in the current period. The ending balance in retained earnings equals: Multiple Choice O $505,000 о $455,000. о $350,000.
1. Restridtions of retained earnings may be dasified as a. legal. d. All of these choices are correct. 2. A corporation has a $500,000 beginning balance in Retained Earnings. Its net income for the year was $200,000. Sales revenue amounted to $1,000,000, and dividends declared and paid by year-end amounted to $100,000. What was the ending balance in Retained Earnings? a. $600,000 b. $1,400,000 c. $700,000 d. $1,200,000 3. On the balance sheet, the balance of Treasury Stock is c....
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