Homework Answers
| PINA COLADA CORP. | |
| Retained Earnings Statement | |
| For the year ended December 31, 2017 | |
| Retained earnings, January 1 ($16,700+$4,700-$10,400) | $ 11,000 |
| Add: Net income | $ 10,400 |
| $ 21,400 | |
| Less: Dividends | $ 4,700 |
| Retained earnings, December 31 | $ 16,700 |
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Please help
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Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
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Comprehensive Problem 8 (Part Level Submission) Pina Colada Corp.’s balance sheet at December 31, 2018, is...
Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
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Please help
Partial adjusted trial balance for Larkspur, Inc. at December 31, 2017, includes the following accounts: Retained Earnings $17.600, Dividends $6,200, Service Revenue $36,100, Salaries and Wages Expense $14,600, Insurance Expense $1.770, Rent Expense $4.060, Supplies Expense $1,600, and Depreciation Expense $800. The balance in Retained Earnings is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) LARKSPUR, INC. Retained Earnings Statement...
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
The adjusted trial balance of Tamarisk, Inc. at December 31, 2019, includes the following accounts: Common Stock $16,900, Dividends $7,200, Service Revenue $36,500, Salaries and Wages Expense $16,700, Insurance Expense $1,300, Rent Expense $4,700, Supplies Expense $1,800, and Depreciation Expense $1,700. The balance in Common Stock is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $10,300 for the year and Retained Earnings is $7,400 on January 1. (List items that...
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Partial adibed trial balance for ossom Company December 31, 2017 includes the following accounts Retained Earnings $16.500, Dividends 54.600, Service Reven $38. Supplies Expense $1.560, and Depreciation Expense $830. The balance in Retained wings is the balances of January 7 00, Salaries and W 1 1600, Insurance Expense 51,700, Rent Expense Prepare a retained earnings statement for the year assuming net income is $10.400. items that incr e digt) BLOSSOM COMPANY Retained Earnings Statement List of Accounts
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Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
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