PARRISH 5-5 TO 5-8BELOW I HAVE LISTED FOUR QUESTIONS THAT NEED THE MISSING AMOUNT.  PLEASE ANSWER ALL FOUR QUESTIONS.  SHOW ME HOW YOU ARRIVED AT THE CORRECT ANSWER AND IN A FORMULA FORMAT IF POSSIBLE AND NOT AN EXCEL CHART.   5-5Retained Earnings 1/1/07       $250,000Net Income                                 83,000Subtotal                                   $333,000Dividends                                  UNKNOWNRetained Earnings 12/31/07   $283,0005-6Retained Earnings 1/1/08       $UNKNOWNNet Income                                  958,000Subtotal                                   $2,783,400Dividends                                     500,000Retained Earnings 12/31/08    $2,283,4005-7Retained Earnings 01/01/08        $983,123Net Income                                     43,000Subtotal                                    $1,026,123Dividends                                        50,000Retained Earnings 12/31/08     $UNKNOWN5-8Retained Earnings 1/1/09          $575,603Net Loss                                  UNKNOWNSubtotal                                     $498,667Dividends                                      10,000Retained Earnings 12/31/09      $488,667

Question
Asked Feb 5, 2020
52 views

PARRISH 5-5 TO 5-8

BELOW I HAVE LISTED FOUR QUESTIONS THAT NEED THE MISSING AMOUNT.  PLEASE ANSWER ALL FOUR QUESTIONS.  SHOW ME HOW YOU ARRIVED AT THE CORRECT ANSWER AND IN A FORMULA FORMAT IF POSSIBLE AND NOT AN EXCEL CHART.  

 

5-5

Retained Earnings 1/1/07       $250,000

Net Income                                 83,000

Subtotal                                   $333,000

Dividends                                  UNKNOWN

Retained Earnings 12/31/07   $283,000

5-6

Retained Earnings 1/1/08       $UNKNOWN
Net Income                                  958,000

Subtotal                                   $2,783,400

Dividends                                     500,000

Retained Earnings 12/31/08    $2,283,400

5-7

Retained Earnings 01/01/08        $983,123

Net Income                                     43,000

Subtotal                                    $1,026,123

Dividends                                        50,000

Retained Earnings 12/31/08     $UNKNOWN

5-8

Retained Earnings 1/1/09          $575,603

Net Loss                                  UNKNOWN

Subtotal                                     $498,667

Dividends                                      10,000

Retained Earnings 12/31/09      $488,667

 

check_circle

Expert Answer

Step 1

Hey, since there are multiple questions posted, we will answer first 3 questions.

Step 2

Accounting homework question answer, step 2, image 1

Step 3

Accounting homework question answer, step 3, image 1

...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting

Related Accounting Q&A

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

Q: How does a leveraged lease differ from a nonleveraged lease?

A: A leveraged lease is an agreement that is partially financed by the third party creditor. In this th...

question_answer

Q: Describe the current convergence efforts of the FASB and IASB in the area of accounting for taxes.

A: The converging of accounting standards stands for the objective of setting up accounting standards t...

question_answer

Q: Right Medical introduced a new implant that carries a five-year warranty against manufacturer’s defe...

A: Compute the amount of liability:

question_answer

Q: 67.000 E5-2 Assume that on September 1. Office Depot had an inventory that included a variety of cal...

A: Hey, since there are multiple questions posted, we will answer first question (E5-2). If you want an...

question_answer

Q: In March 2016, Emett Motors began selling extended warranties for the vehicles it sells. The extende...

A:  (a)The revenue is deferred on the initial sale and it will recognize over the warranty period.There...

question_answer

Q: A company reports merchandise inventory on December 31 at $250,000 but LCM applied to items is $200,...

A: In the given situation, the rectification entry needs to be passed as the company seems to follow th...

question_answer

Q: Question 1:Uno Pizza Store started the year with total assets of $150,000 and total liabilities of $...

A:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new question ...

question_answer

Q: Windsor Corporation had net sales of $2,404,900 and interest revenue of $38,100 during 2020. Expense...

A: Windsor Corporation’s condensed multiple-step income statement is prepared as follows:  

question_answer

Q: The following errors occurred in posting from a two-column journal: A credit of $6,000 to Accounts ...

A: Trial balance