900350000500000LO4P 3-12LO 4nce sheet at July 31, 2017.Relationships of Account Items in the Trial BalanceJanuary 1, 2017AssetsLiabilitiesEquityDecember 31, 2017AssetsLiabilitiesEquity..Equity changes in yearAdditional investmentDividendsTotal revenueTotal expensesRequired:MPCompany$85,00045,000(a)(b)55,00050,000(c)20,000370,000355,000MaydayCompany$99,000(d)50,000$137,10065,000(e)dies Ing$ 12,000(f)448,100420,000Preparing Correct Trial BalanceThe trial balance of Paradise Inc. shown below does not balance.FIYERCompanyUnits: NT dollarsSHECompany(g)76,00032,000$132,000(h)47,000$ 10,00015,000(1)385,000$144,000G100,000(k)50,000122,0001.Determine the missing amounts.2. Prepare the statement of retained earnings for Mayday Company. Assume beginning retainedearnings was NT$32,900.$ 30,00011,000500,000(1)

Accounting Equation :— It is the relationship between assets, liabilities and owner's equity.…

LO4 sheet at July 31, 2017. Relationships of Account Items in the Trial Balance January 1, 2017 Assets Liabilities Equity December 31, 2017 Assets Liabilities Equity Equity changes in year Additional investment Dividends 1. 2. Total revenue Total expenses Required: MP Company $85.000 45,000 (a) (b) 55,000 50,000 (c) 20,000 370,000 355,000 Mayday Company $99,000 (d) 50,000 $137,100 65,000 (e) $ 12,000 (f) 448,100 420,000 FIYER Company Units: NT dollars SHE Company (g) 76,000 32,000 $132,000 (h) 47,000 $ 10,000 15,000 (1) 385,000 $144,000 ( 100,000 (k) 50,000 122,000 $ 30,000 11,000 500,000 (1) Determine the missing amounts. Prepare the statement of retained earnings for Mayday Company. Assume beginning retained earnings was NT$32,900.

LO4 sheet at July 31, 2017. Relationships of Account Items in the Trial Balance January 1, 2017 Assets Liabilities Equity December 31, 2017 Assets Liabilities Equity Equity changes in year Additional investment Dividends 1. 2. Total revenue Total expenses Required: MP Company $85.000 45,000 (a) (b) 55,000 50,000 (c) 20,000 370,000 355,000 Mayday Company $99,000 (d) 50,000 $137,100 65,000 (e) $ 12,000 (f) 448,100 420,000 FIYER Company Units: NT dollars SHE Company (g) 76,000 32,000 $132,000 (h) 47,000 $ 10,000 15,000 (1) 385,000 $144,000 ( 100,000 (k) 50,000 122,000 $ 30,000 11,000 500,000 (1) Determine the missing amounts. Prepare the statement of retained earnings for Mayday Company. Assume beginning retained earnings was NT$32,900.

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 15.17EX: Profitability ratios The following selected data were taken from the financial statements of...

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