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.
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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.
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- I sent this question in and got the wrong answer. I need a classical balance sheet, not an income statement or retained earnings report. I did this personally and can't get it to balance. E2-5 I need (((((Assets = Liabilities + Stockholders Equity)))))A journal entry for a $75 payment for dividends was recorded as dividends expense and routed through the income statement and credited to cash. The error will cause all of the following except: A. Common stock overstated by $75 B. Expenses to be overstated by $75 C. Net income will be understated by $75 D. There will be no impact on revenues.Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325
- Enter the missing values in the following selected financial statements (partial) that are available for HAS, Inc. Amounts are in millions of dollars. (Negative amounts should be indicated by a minus sign. Enter your answers in millions of dollars.)For “required 1” I couldn’t upload a picture but I got this incorrect and would love help on how to calculate: -loss on sale of investments -income tax expense -net income -earnings per shareYour answer is partially correct. Try again. Using these data from the comparative balance sheet of Cullumber Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.) Increase or (Decrease) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Accounts receivable $ 608,400 $ 520,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal places. % Inventory $ 931,700 $ 770,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. % Total assets $3,381,000 $2,940,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. %
- please answer all parts please do not say about your guidelines in detail with explanation computation formulas thanks 2. For each transaction below, write the net effect on Current Assets (CA), Current Liabilities (CL), Gross Profit (GP), Net Income Before Taxes (NIBT), and Cash flows from operating activities (CFO). - Ignore income tax effects - Write only the effect for the current period. - Assume the companyis a merchandising firm. - Assume warranty expenses are recognized in COGS and bad debt expenses are recognized in SG\&A. - If the net effect is negative, include a negative sign. - If no effect, write 0 . - Note that this is not a balance sheet equation(A=L+E)table, so you should not expect amounts to balance.FIND AND CLARIFY HOW TO FIND REVENUE The equation I have been given for finding Revenue is as follows: RE 12/31=RE 1/1+(Rev-Exp)-Dividends In this example it is solved by changing the equation from postive RE 1/1 to negative and changing Dividends Declared from negative to positive. Why is this done, when it goes against the equation listed above. So tell me WHY each step is done. Here is an example of answer I have already been given Retained earnings at the end of any financial period is computed by adding the opening balance and profits earned during the period less diviends declared/usage of retained earnings.Closing Retained Earnings=Opening Retained Earnings+Profits Earned-Dividends declared.Opening retained earnings=$8,000Closing Retained earnings=$9,000Dividend declared out of retained earnings=$3,000So, Profits earned during the period= Closing Retained earnings+Dividends declared-Opening Retained Earnings=$9,000+3,000-8,000=$4,000I keep getting the answer 0.119% But it is informing me that this answer is wrong. Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $273,110 Interest expense 48,190 Average total assets 2,700,000 Determine the return on total assets. If required, round the answer to one decimal place.
- When I add the information from the attached to here, why I am not getting the net incom $341. Please see attached partial income statement Revenue COGS Operating expenses (SG&A + Restructuring + Investment income + Interest expense) Income taxes Income (net earnings)Please Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 14 dislikes for you and more from my friend's accounts also. Calculate the return on assets (ROA) for Company HH using the following information: Net Income: $500,000 Average Total Assets: $4, 500,000 What is the ROA ( Return on Assets)? a) 8.89% b) 11.11% c) 9.52% d) 10.45%Mr. Sharpy, the owner of Galactic Co. is arguing with his accountant as to thebest measure of liquidity. He was considering the following and you are to advisehim which one is best. Which one will you choose? a. Current assets minus inventories to current liabilities b. Total assets minus goodwill to total liabilities.c. Net income minus dividends to interest expense.fd. Sales minus returns to total debt