Equation for finding Revenue (5th time asking) This is now the 4th time I have had to ask the same question to get a clear and consistent answer. The last answer given to me made sense, except it did not account or explain how expenses were to be handled. The basic equation is RE12/31=RE 1/1 + Revenue-Expenses-Dividends. Then it has to be changed to where it now becomes Revenue=X, Y, and Z!! So here are the numbers for the equation. Show me step by step and explain as though I have no understanding of accounting at all. Revenue $UNKOWN Dividends Delcared $3000 Expenses $6000 RE 1/1 $8000 RE 12/31 $9000

Equation for finding Revenue (5th time asking) This is now the 4th time I have had to ask the same question to get a clear and consistent answer. The last answer given to me made sense, except it did not account or explain how expenses were to be handled. The basic equation is RE12/31=RE 1/1 + Revenue-Expenses-Dividends. Then it has to be changed to where it now becomes Revenue=X, Y, and Z!! So here are the numbers for the equation. Show me step by step and explain as though I have no understanding of accounting at all. Revenue $UNKOWN Dividends Delcared $3000 Expenses $6000 RE 1/1 $8000 RE 12/31 $9000

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 4MAD: Analyze Target The following data (in millions) are taken from the financial statements of Target...

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FIND REVENUE Find the revenue for this problem and please provide the equation and method you came to find the correct answer. Please explain clearly. Revenues UNKNOWN Dividends declared $80000 Expenses $70000January 1 retained earnings $28000December 31 retained earnings $32000
I have 2 questions.1. I am not sure if I am calculating the "net income" and "earnings before taxes" (EBT) correctly.Are the numbers suppose to match? Please explain how to calculate the two given the below Income Statement.Formulas:Net Income = Revenue - ExpensesEBT = Revenue - (Expenses - taxes) 2. How do I create closing entries for the expenses to set them to zero for the next accounting cycle.My understanding is a T-account needs to be created for the expenses and adjustments made so the Dr and Cr balance to 0. Closing Entry: Account Name Dr Cr Revenues $ 1,745,670.41 Retained Earning $ 1,745,670.41 Closing Entry: Account Name Dr Cr Income $ 1,167,058.20 Expenses Wage Expense $866,004.00 Wage Tax expense $57,829.08 Medical Insurance Expense $32,400.00 Auto Insurance Expense $4,140.00 Interest Expense $16,492.92 Electrical &…
I asked this question earlier and still unclear about the equation. The amount of expenses has to be found. Revenue 2028 $6000 Dividends declared $0 Expenses for 2028 $ Amount Unknown 1/1 RE $12000 12/31 RE $8000 Step 1 This is the equation I was given. Closing RE=Opening RE+ Net income loss-Dividends paid (How do you know it is a loss if you haven't even found the expenses amount yet??) Also why below is loss in parentheses below? I need to know why Net Income LOSS is used $8000=$12000+Net income loss-$0 Net Income Loss=$8000-$12000+$0 Net Income (loss)=-($4000) Step 2 Calculate expenses for 2028 Net Income LOSS=Revenues-Expenses -$4000=$6000+$4000 Expenses=$6000+$4000 Expenses=$10000
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sing the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Beginning of Year: $25,000 - $19,000 Liabilities End of Year: $60,000 - $25,000 1) What is the equity at the beginning of the year? Beginning Equity 6,000 2) What is the equity at the end of the year? Ending Equity 35,000 3) If the owner contributes $5,400 and the owner withdraws $38,500, how much is net income (loss)? Net Income (Loss) 62,100 This the answers I need help with but you need all of this to answer the questions 4 If net income is $3,400 and owner withdrawals are $8,900, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $16,200 and net income is $19,800, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $43,600 and the owner withdraws $1,900, how much…
I need to find the Dec 31 Retained Earnings balance. This is the information the workbook gives. 1) Revenue for 2008 is $8000 2) Dividends declared in 2008 is $1000 3) Expenses for 2008 is $3000 4) January 1 Retained Earnings balance is $5000.Please tell me the 12/31 Retained Earnings balance and how you came to that solution. Thanks!
FIND RE 1/1 Please calculate the missing information in the following problem and provide the equation and explain how you came to the correct amount pleae. Revenues $63000Dividends $21000 Expenses $38000January 1 retained earnings balance UNKNOWNDecember 31 retained earnings balance $16000$16,000
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How do I find the Revenue amount for the following problem? Please be clear and concise and avoid using tables or images etc if you can Revenue $? Dividends Declared $3000 Expenses $6000 RE 1/1 $8000 RE 12/31 $9000 My answer was $8000-but it was wrong.
The other tutor put wrong info so I’m try again (a) Calculate the first year's net income under the cash basis of accounting. Calculate the first year's net income under the accrual basis of accounting. (b) Which basis of accounting (cash or accrual) provides the most useful information for decision-makers? E3-3 The following information is available regarding Hallal Company: 1. On its December 31, 2001, balance sheet, the company had prepaid rent of $20,000 ($4,000 per month), which covered the period January 1-May 31, 2002. 2. On May 1, 2002, it negotiated a new lease agreement that covered a three-year period at a rent of $5,000 per month, effective June 1, and immediately paid a "security deposit" of $5,000. This amount will be refunded to the company after the termination of the lease (subject, of course, to the premises being in reasonable condition when vacated) 3 . On June 1, 2002, Hallal Company paid the rent for the frst six months of the new lease ($30,000) in advance.…
Analyze Target The following data (in millions) are taken from the financial statements of Target Corporation (TGT), the owner of Target stores: a. For Target, determine the amount of change in millions and the percent of change rounded to one decimal place from Year 1 to Year 2 for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and total operating expenses?