Please answer your answer thoroughly. Thank you in advance for your help! Company ABC Year 2020...
Please answer your answer thoroughly. Thank you in advance for your help!
Company ABC
Year 2020
R.E. (Jan. 1, 2020) $20,000
Cash dividends declared 400
Cash dividends paid 360
Net income 7,000
- Do the journal entry for the net income
- Do the journal entry for the dividends declared
- Do the journal entry for the dividends paid
- Present the R.E. statement
Homework Answers
| Journal Entry- | ||
| Account Tittle | Debit | Credit |
| Income Statement | $7,000.00 | |
| Retained Earnning | $7,000.00 | |
| To close Income Sumamary | ||
| Retained Earning | $400.00 | |
| Dividend Payable | $400.00 | |
| TO Record dividend Decleration | ||
| Dividend Payable | $360.00 | |
| Cash | $360.00 | |
| TO Record Payment of Dividend |
| Statement Showing Retained Earning | |
| Beginning Balance of Retained Earning | $20,000.00 |
| Add: Net Income | $7,000.00 |
| Less: Dividend Declared | -$400.00 |
| Endig Balance of Retained Earning | $26,600.00 |
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Please answer your answer thoroughly. Thank you in advance for
your help!
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Please show all work. Thank you in
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I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR. THANK YOU IN...
I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR.
THANK YOU IN ADVANCE!!
I need Answers for all 3 columns; Preferred, Common and
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I need answers for all Credit and Debit columns please,
thank you!
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answer this question. I have almost all of it filled out except for
a little bit.
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I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR.
THANK YOU IN ADVANCE!!
I need Answers for all 3 columns; Preferred, Common and
Total, please.
I need answers for all Credit and Debit columns please,
thank you!
Current Attempt in Progress The shareholders'equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued $213,600 Share capital, 5,000,000 common shares authorized...
I have no idea what I am missing. Thank you for your help in
advance!
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Please help me
answer this question. I have almost all of it filled out except for
a little bit.
We were unable to transcribe this imageRequired 1 Required 2 Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Credit No 1 Date General Journal November 01, 20 Retained earnings Cash dividends...
Just to make aware, the Net Income should be $14,671. Thank you
in advance to who answers this!
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please answer asap, thank you!
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