In picture 5, how we retained earnings became 142?
Homework Answers
Retained Earnings is equal to beginning balance + net income -
dividend
Since beginning balance and dividend is not given, it can be seen
that retained earnings = net income = 142
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In picture 5, how we retained earnings became 142? Temporal and Current Rate Methods Translation methods...
in the last picture, how did they find the COGS? use the formula ( beg inventory + purchases - ending inventory ) Tempo...
in the last picture, how did they find the COGS? use the formula
( beg inventory + purchases - ending inventory )
Temporal and Current Rate Methods Translation methods illustrated U.S. Inc. owns Juarez, SA, a subsidiary in Mexico which was established January 1, 2010. Juarez's balance sheet items as of 12/31/10, in pesos: Cash Accounts rec. Inventory Fixed assets Accum. depr. 1,000 2,000 2,500 8,000 1,000 Accounts payable Long-term debt Capital stock Retained earnings 2,000 6,000 3,000 1,500 Learning...
Help for income, retained earnings, balance sheet, Net profit margin, and a current ratio Drs. Glenn...
Help for income, retained earnings, balance sheet, Net profit margin, and a current ratio Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 6 Accounts Receivable 2 Supplies 2 Equipment 9 Accumulated Depreciation $ 2...
Problem 6-5 Prepare work sheet, classified income statement, statement of retained earnings, classified balance sheet, and...
Problem 6-5 Prepare work sheet, classified income statement, statement of retained earnings, classified balance sheet, and closing entries (based on Appendix) (L.O.5-8) The following data are for Leone Lumber Company LEONE LUMBER COMPANY Trial Balance December 31, 2018 Acct. No. 100 103 105 107 108 112 170 171 200 300 310 410 412 Debits Credits Account Title $ 90,640 Cash 159,520 Accounts Receivable 285,200 Merchandise Inventory, January 1, 2018 5,360 Supplies on Hand 4,800 Prepaid Insurance 57,600 Prepaid Rent 88,000...
Problem 4-17 The Haverly Company expects to finish the current year with the following financial results, and is devel...
Problem 4-17 The Haverly Company expects to finish the current year with the following financial results, and is developing its annual plan for next year. Haverly Company Income Statement This Year ($000) 100.0 $80900 34792 $46108 Revenue COGS Gross Margin Expenses: Marketing Engineering Fin & Admin Total Exp. EBIT Interest * $17667 9799 4931 $32397 $13711 2007 $11704 5267 $ 5437 16.9 EBT Inc Tax olir ili Net Income $ 1546 908 Haverly Company Balance Sheet This Year ($000) ASSETS...
instruction A,B,C for C: there are income statement, retained earning statement, and balance sheet. Please click...
instruction A,B,C
for C: there are income statement, retained earning statement,
and balance sheet.
Please click in the picture for the full information.
SIve Accounting ACR8 Hudson Corporation's balance sheet at December 31, 2021, is presented below. Hudson Corporation Balance Sheet December 31, 2021 Cash $13,100 19,780 Accounts payable Common stock Retained earnings $ 8,750 20,000 12,730 Accounts receivable Allowance for doubtful accounts (800) 9,400 Inventory $41,480 $41,480 During January 2022, the following transactions occurred. Hudson uses the perpetual inventory...
1.) How is a common-size balance sheet created? 2.) Discuss how marketable securities are valued on...
1.) How is a common-size balance sheet created? 2.) Discuss how marketable securities are valued on the balance sheet. 3.) How can the allowance for doubtful accounts be used to assess earnings quality? 4.) Why is the valuation of inventories important in financial reporting? 5.) Why would a company switch to the LIFO method of inventory valuation in an inflationary period? 6.) Which inventory valuation method, FIFO or LIFO, will generally produce an ending inventory value on the balance sheet...
2.) Discuss how marketable securities are valued on the balance sheet. 3.) How can the allowance...
2.) Discuss how marketable securities are valued on the balance sheet. 3.) How can the allowance for doubtful accounts be used to assess earnings quality? 4.) Why is the valuation of inventories important in financial reporting? 5.) Why would a company switch to the LIFO method of inventory valuation in an inflationary period? 6.) Which inventory valuation method, FIFO or LIFO, will generally produce an ending inventory value on the balance sheet that is closest to current cost? 7.) Discuss...
4. Based upon the end-of-period spreadsheet, journalize the closing entries. 5. Prepare a post-closing trial balance...
4. Based upon the end-of-period spreadsheet, journalize the
closing entries.
5. Prepare a post-closing trial balance
Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses, Beacons Company prepared the following end-of-period spreadsheet at December 31, 2045, the end of the fiscal year: F G AWN- BTC D E Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 2045 Unadjusted Trial Balance Adjustments Dr. Cr. Dr. Cr. Adjusted Trial Balance Dr. Cr. 6...
Income Statment, Statment of retained earnings, balance sheet $ 400 Assets: Cash Accounts Receivable Supplies $10,500...
Income Statment, Statment of retained earnings, balance sheet
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,510 220 $12,13e Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ENN January 1 2 3 2 2 2 2 2 2 3...
i need help with number 4, preparing the income statement, retained earnings statement, and the balance...
i need help with number 4, preparing the income statement,
retained earnings statement, and the balance sheet. this is the
information that i have.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment. 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries. 6) Put...
in the last picture, how did they find the COGS? use the formula
( beg inventory + purchases - ending inventory )
Temporal and Current Rate Methods Translation methods illustrated U.S. Inc. owns Juarez, SA, a subsidiary in Mexico which was established January 1, 2010. Juarez's balance sheet items as of 12/31/10, in pesos: Cash Accounts rec. Inventory Fixed assets Accum. depr. 1,000 2,000 2,500 8,000 1,000 Accounts payable Long-term debt Capital stock Retained earnings 2,000 6,000 3,000 1,500 Learning...
Problem 6-5 Prepare work sheet, classified income statement, statement of retained earnings, classified balance sheet, and closing entries (based on Appendix) (L.O.5-8) The following data are for Leone Lumber Company LEONE LUMBER COMPANY Trial Balance December 31, 2018 Acct. No. 100 103 105 107 108 112 170 171 200 300 310 410 412 Debits Credits Account Title $ 90,640 Cash 159,520 Accounts Receivable 285,200 Merchandise Inventory, January 1, 2018 5,360 Supplies on Hand 4,800 Prepaid Insurance 57,600 Prepaid Rent 88,000...
Problem 4-17 The Haverly Company expects to finish the current year with the following financial results, and is developing its annual plan for next year. Haverly Company Income Statement This Year ($000) 100.0 $80900 34792 $46108 Revenue COGS Gross Margin Expenses: Marketing Engineering Fin & Admin Total Exp. EBIT Interest * $17667 9799 4931 $32397 $13711 2007 $11704 5267 $ 5437 16.9 EBT Inc Tax olir ili Net Income $ 1546 908 Haverly Company Balance Sheet This Year ($000) ASSETS...
instruction A,B,C
for C: there are income statement, retained earning statement,
and balance sheet.
Please click in the picture for the full information.
SIve Accounting ACR8 Hudson Corporation's balance sheet at December 31, 2021, is presented below. Hudson Corporation Balance Sheet December 31, 2021 Cash $13,100 19,780 Accounts payable Common stock Retained earnings $ 8,750 20,000 12,730 Accounts receivable Allowance for doubtful accounts (800) 9,400 Inventory $41,480 $41,480 During January 2022, the following transactions occurred. Hudson uses the perpetual inventory...
4. Based upon the end-of-period spreadsheet, journalize the
closing entries.
5. Prepare a post-closing trial balance
Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses, Beacons Company prepared the following end-of-period spreadsheet at December 31, 2045, the end of the fiscal year: F G AWN- BTC D E Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 2045 Unadjusted Trial Balance Adjustments Dr. Cr. Dr. Cr. Adjusted Trial Balance Dr. Cr. 6...
Income Statment, Statment of retained earnings, balance sheet
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,510 220 $12,13e Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ENN January 1 2 3 2 2 2 2 2 2 3...
i need help with number 4, preparing the income statement,
retained earnings statement, and the balance sheet. this is the
information that i have.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment. 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries. 6) Put...
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