1 answer

A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment...

Question:

A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service

A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,000 4,500 2.000 4,500 65.000 30,000 20,000 3,000 5,000 68,000 8,000 What is the amount of ending Retained Earnings reported in the balance sheet?

Answers

Income Statement
Service revenue 30,000
Less: Expenses
salaries expense -4,500
Miscellaneous expense -20,000
Net Income $5,500
Statement of Retained Earnings
Retained earnings beginning 8,000
Net Income 5,500
13,500
Dividends -3,000
Retained earnings, ending $10,500

Retained earnings reported in the balance sheet = $10,500

Kindly comment if you need further assistance. Thanks‼!

.

Similar Solved Questions

1 answer
A child throws a ball straight upwards to his friend who is sitting in a tree...
A child throws a ball straight upwards to his friend who is sitting in a tree 14 ft above ground level. The ball leaves his hand at a height of 3 feet with an initial velocity of 30 ft/sec. Use this information to answer the following questions. Be sure to show all steps of your work using the equat...
1 answer
I need help on these C++ problems please. Thanks Same problem 5 5 zy 20.3. Loop-modifying...
I need help on these C++ problems please. Thanks Same problem 5 5 zy 20.3. Loop-modifying o X > Sanders and Biden spar ove C Get Homework Help With C C 55 Zy 19.6. Lab 19 - Vector: + V O - 0 X . f = 0 https://learn.zybooks.com/zybook/CALBAPTISTEGR121Spring2020/chapter/20/section/3?content_r...
1 answer
A diverging lens (f1 = −14.0 cm) is located 25.0 cm to the left of a...
A diverging lens (f1 = −14.0 cm) is located 25.0 cm to the left of a converging lens (f2 = 23.5 cm). A 4.0-cm-tall object stands to the left of the diverging lens, exactly at its focal point. What is the height of the final image (including proper algebraic sign)?...
1 answer
CHINH, HN CHINH, 19LiAH 2) H,0 Br NaN, 1) LAH 2) H0 1) LAH 2) H.O...
CHINH, HN CHINH, 19LiAH 2) H,0 Br NaN, 1) LAH 2) H0 1) LAH 2) H.O Br NCN 1) Sn, HCI 2) NaOH Proponga sintesis para: CHANH, ambos a partir de benceno respectivamente...
1 answer
According to Bologna and Lindquist, forensic accountants investigating employee crimes typically look for transactions that are...
According to Bologna and Lindquist, forensic accountants investigating employee crimes typically look for transactions that are odd as to what five characteristics?...
1 answer
If the marginal propensity to save is 0.4 and disposable income increases from $1,000 to $2,000,...
If the marginal propensity to save is 0.4 and disposable income increases from $1,000 to $2,000, saving will increase O A. $200. OB. $100 OC. $400 OD. $300....
1 answer
Question 4 < > Solve the initial value problem below. xʻy" – xy' +y = 0,...
Question 4 < > Solve the initial value problem below. xʻy" – xy' +y = 0, y(1) = – 5, y'(1) = 0 =...
1 answer
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant as...
1 answer
How do you write a rule for the nth term of the geometric term given the two terms #a_3=24, a_5=96#?
How do you write a rule for the nth term of the geometric term given the two terms #a_3=24, a_5=96#?...
1 answer
Light enters an unknown liquid from air. The angle of the light is at 70.00000 degrees...
Light enters an unknown liquid from air. The angle of the light is at 70.00000 degrees from the normal in air. The index of refraction of air is 1.000. The angle inside the liquid is 22.00000. What is index of the unknown medium? An object is placed 9.0000 cm in front of a lens with focal length =-6...
1 answer
If S1 is the market supply curve, then in the short run, the profit-maximizing level of...
If S1 is the market supply curve, then in the short run, the profit-maximizing level of output for a single firm in this market is how many gallons per week? If S2 is the market supply curve, then in the short run, the profit-maximizing level of output for a single firm in this market is how many ga...
1 answer
Express the system of differential equations in matrix notation. x' = (e")x+ (a + bt)y y'...
Express the system of differential equations in matrix notation. x' = (e")x+ (a + bt)y y' = (csc t)x + (sect) Write the system of equations using matrix notation. Select the correct choice below and fill in the answer box to complete your choice. (Type an exact answer.) OA. [11:40: ] ...
1 answer
A diverging lens has a focal length of magnitude 16.6 cm. (a) Locate the images for...
A diverging lens has a focal length of magnitude 16.6 cm. (a) Locate the images for each of the following object distances. 33.2 cm distance      cm location      16.6 cm distance      cm location    &nb...
1 answer
You are provided with the following information for Pharoah Company, effective as of its April 30,...
You are provided with the following information for Pharoah Company, effective as of its April 30, 2022, year-end. $ 846 880 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expen...
1 answer
E is dow EC S-ur.nl dǐstawee. ☆ we 'tre laahaグベCAD/ electric dipole 犬
e is dow EC S-ur.nl dǐstawee. ☆ we 'tre laahaグベCAD/ electric dipole 犬...
1 answer
What is the reimbursement mechanism for hospitals in Chile? (Health Services Course)
What is the reimbursement mechanism for hospitals in Chile? (Health Services Course)...
1 answer
2. Draw a possible graph of the function described: (6 pts.) 10 O 00 07 f(-3)=4,...
2. Draw a possible graph of the function described: (6 pts.) 10 O 00 07 f(-3)=4, f (2)=0 f'(-4)= f'(2) = f'(9)=0) f'>0 when x < -4 and x > 2 f' <0 when - 4<x<2 f">0 when -1<x< 5 or 9<x<10 f" <0 when x < -1 or 5<x< 9 or x >10...