Retained earnings belongs to what element in the financial statements
Homework Answers
Under the shareholders equity in a balance sheet, retained earnings are included.
Retained earnings are the amount of profits that is left after distribution of dividends.
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Retained earnings belongs to what element in the financial
statements
For each item that follows, indicate which element of the financial statements it belongs to: (a)...
For each item that follows, indicate which element of the financial statements it belongs to: (a) Retained earnings (b) Sales revenue (c) Acquired goodwill (d) Inventory < (e) Depreciation expense (f) Loss on sale of equipment (g) Interest payable (h) Dividends (i) Issuance of common shares
For each item that follows, indicate which element of the financial statements it belongs to: Financial...
For each item that follows, indicate which element of the financial statements it belongs to: Financial Statements Element (a) Accounts receivable AssetEquityExpenseGainLiabilityLossesRevenue (b) Gain on sale of land AssetEquityExpenseGainLiabilityLossesRevenue (c) Income tax expense AssetEquityExpenseGainLiabilityLossesRevenue (d) Accumulated depreciation AssetEquityExpenseGainLiabilityLossesRevenue (e) Bonds payable AssetEquityExpenseGainLiabilityLossesRevenue (f) Interest income AssetEquityExpenseGainLiabilityLossesRevenue (g) Preferred shares AssetEquityExpenseGainLiabilityLossesRevenue (h) Rent paid AssetEquityExpenseGainLiabilityLossesRevenue (i) Salaries payable AssetEquityExpenseGainLiabilityLossesRevenue (j) Cash AssetEquityExpenseGainLiabilityLossesRevenue (k) Bank loan payable
Bodie Corporation reported the following amounts in its financial statements: Retained earnings, Jan. 1, 2018 Retained...
Bodie Corporation reported the following amounts in its financial statements: Retained earnings, Jan. 1, 2018 Retained earnings, Dec. 31, 2018 Net income, 2018 $89,364 $66,863 $51,112 What were the dividends declared and paid in 2018? $
Identify and explain what are the four financial statements. 1.Income Statement 2. Statement of Retained Earnings...
Identify and explain what are the four financial statements. 1.Income Statement 2. Statement of Retained Earnings 3. Balance Sheet 4. Statement of Cash Flow What are the types of accounts included on each statement. Identify the relationship between each statement. Cite your sources (APA).
Given the following financial statements, what is the forecasted retained earnings if all revenues, expenses, assets...
Given the following financial statements, what is the forecasted
retained earnings if all revenues, expenses, assets and liabilities
remain a constant percent of sales, and sales increase by 20%?
Assume the common stock account will remain fixed and the dividend
payout ratio remains constant.
$3,776
$3,236
$1,896
We were unable to transcribe this imageGiven the following financial statements, what is the forecasted retained earnings if all revenues, expenses assets and liabilities remain a constant percent of sales, and sales...
Identify the financial statements of a merchandiser. (Check all that apply.) Statement of retained earnings Merchandise...
Identify the financial statements of a merchandiser. (Check all that apply.) Statement of retained earnings Merchandise profit statement Income statement Statement of merchandise inventory Balance sheet
A. On which two financial statements would the Retained Earnings account appear?
A. On which two financial statements would the Retained Earnings account appear?Income Statement and Balance SheetIncome Statement and Statement of EquityBalance Sheet and Statement of Cash FlowsBalance Sheet and Statement of EquityB. On which financial statement would the Supplies account appear?Income StatementStatement of EquityStatement of Cash FlowsBalance SheetC. Services or products provided would be classified asRevenueAssetEquityLiability
These items are taken from the financial statements of Sheffield Corp. for 2017. Retained earnings (beginning...
These items are taken from the financial statements of Sheffield Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $33,280 2,110 68,280 22,570 15,070 5,840 12,000 12,000 69,290 6,340 1,690 3,490 15,970 2,310 38,290 22,570 Prepare a retained earnings statement for the year ended December 31, 2017. (List...
These items are taken from the financial statements of Carla Vista Co, for 2022. Retained earnings...
These items are taken from the financial statements of Carla Vista Co, for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $33,380 2,150 63,800 18,340 14,300 5,510 23,200 12,000 3,500 6,300 2,100 72,760 6,010 1,650 3,140 15,650 2,660 41,730 21,800 (a2) Prepare a retained...
The year-end financial statements of ABC Company contained the following elements and corresponding amounts: Element Amount...
The year-end financial statements of ABC Company contained the following elements and corresponding amounts: Element Amount Assets $20,000 Liabilities $4,000 Common Stock $10,000 Beginning Retained Earnings $1,000 Ending Retained Earnings $6,000 Revenue $8,000 Dividends $500 Based on this information, the amount of Net Income on ABC Company's Income Statement was: $4.500 $2.500 $5.500 55.000
For each item that follows, indicate which element of the financial statements it belongs to: (a) Retained earnings (b) Sales revenue (c) Acquired goodwill (d) Inventory < (e) Depreciation expense (f) Loss on sale of equipment (g) Interest payable (h) Dividends (i) Issuance of common shares
Bodie Corporation reported the following amounts in its financial statements: Retained earnings, Jan. 1, 2018 Retained earnings, Dec. 31, 2018 Net income, 2018 $89,364 $66,863 $51,112 What were the dividends declared and paid in 2018? $
Given the following financial statements, what is the forecasted
retained earnings if all revenues, expenses, assets and liabilities
remain a constant percent of sales, and sales increase by 20%?
Assume the common stock account will remain fixed and the dividend
payout ratio remains constant.
$3,776
$3,236
$1,896
We were unable to transcribe this imageGiven the following financial statements, what is the forecasted retained earnings if all revenues, expenses assets and liabilities remain a constant percent of sales, and sales...
Identify the financial statements of a merchandiser. (Check all that apply.) Statement of retained earnings Merchandise profit statement Income statement Statement of merchandise inventory Balance sheet
These items are taken from the financial statements of Sheffield Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $33,280 2,110 68,280 22,570 15,070 5,840 12,000 12,000 69,290 6,340 1,690 3,490 15,970 2,310 38,290 22,570 Prepare a retained earnings statement for the year ended December 31, 2017. (List...
These items are taken from the financial statements of Carla Vista Co, for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $33,380 2,150 63,800 18,340 14,300 5,510 23,200 12,000 3,500 6,300 2,100 72,760 6,010 1,650 3,140 15,650 2,660 41,730 21,800 (a2) Prepare a retained...
The year-end financial statements of ABC Company contained the following elements and corresponding amounts: Element Amount Assets $20,000 Liabilities $4,000 Common Stock $10,000 Beginning Retained Earnings $1,000 Ending Retained Earnings $6,000 Revenue $8,000 Dividends $500 Based on this information, the amount of Net Income on ABC Company's Income Statement was: $4.500 $2.500 $5.500 55.000
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