Question

Parrish 1-3 #1

Please show me how to find the ending balance of Retained Earnings.  Please use the equation and not a diagram to show and explain.

Revenue $8000

Dividends declared $1000

RE 1/1 $5000

RE 12/31 $ UNKOWN

Expert Answer

Want to see the step-by-step answer?

See Answer

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Answer
*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: Can someone help me solve this question?

A: Allowance for Doubtful Accounts: Allowance for doubtful accounts is determined as the reduction in t...

Q: Parrish 1-3 #5 Please find the missing amount listed below. Please provide the equation and method u...

A: Statement of retained earnings: This statement reports the beginning retained earnings and all the c...

Q: Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued...

A: Present value of the bond is calculated by adding the Present value of the amount to be paid on rede...

Q: Accounting Question

A: Fixed Overhead:Fixed Overhead is a set of costs that do not vary as a result of change in activity. ...

Q: Elite Lawn & Plowing (EL&P) is a lawn and snow plowing service with both residential and com...

A: Step 1:In case of overhead allocation base of direct labor hours, the total overhead cost is divided...

Q: Browning Company's sales budget shows the following expected total sales: Month Sales $17,000 Januar...

A: Calculation of cash inflows in April:

Q: Average Rate of Return Method, Net Present Value Method, and Analysis The capital investment committ...

A: Hence, $180,000 is the average investment. It is obtained by the addition of initial investment and ...

Q: Accounting Question

A: Click to see the answer

Q: Accounting Question

A: Net income: Net income is the excess amount of revenue after deducting all the expenses of a company...