Please provide the answers to the amounts not given.For the following items, provide the missing number.Retained Earnings, 1/1/16$ 575,603Net Income?Subtotal$ 498,667Dividends10,000Retained Earnings, 1/1/16$ 488,667Make sure your answer does not include a "$" (dollar sign) or "," (comma). It should be in the format of a basic number; such as "55000".
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Please provide the answers to the amounts not given.
For the following items, provide the missing number.
$ 575,603
Net Income
?
Subtotal
$ 498,667
Dividends
10,000
Retained Earnings, 1/1/16
$ 488,667
Make sure your answer does not include a "$" (dollar sign) or "," (comma). It should be in the format of a basic number; such as "55000".
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- Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Common Stock B. Dividends C. Dividends Payable D. Equipment E. Income Tax Expense F. Income Tax Payable G. Service Revenue H. Unearned Service Revenue I. Net IncomeFor the two independent cases that follow, determine the missing amount for each letter. (Hint: You might not be able to calculate them in the order in which they appear.) Case 1 Case 2 Revenues $114,700 $Enter a dollar amount. E Expenses Enter a dollar amount. A 165,000 Net earnings 39,800 78,400 Dividends declared Enter a dollar amount. B 19,900 Retained earnings: Beginning of year 269,000 337,700 End of year 297,800 Enter a dollar amount. F Total assets: Beginning of year 378,700 599,500 End of year Enter a dollar amount. C 747,250 Total Liabilities: Beginning of year 8,400 214,100 End of year 407,400 279,500 Common shares: Beginning of year 101,300 47,700 End of year 151,950 Enter a dollar amount. G Proceeds from common shares issued during the year Enter a dollar amount.…By how much would the December 31, 2020 retained earnings be misstated ifthe books are not yet closed? A. Retained earnings is overstated by P70,800B. Retained earnings is overstated by P76,800C. Retained earnings is overstated by P94,800D. Retained earnings is overstated by P58,800
- By how much would the December 31, 2020 retained earnings be misstated if the books are not yet closed? * Retained earnings is overstated by P70,800 Retained earnings is overstated by P76,800 Retained earnings is overstated by P94,800 Retained earnings is overstated by P58,800Which of the following entries properly closes a temporary account? a. Dividends200 Retained Earnings200 b. Income Summary20,000 Service Revenue20,000 c. Accumulated Depreciation1,600 Income Summary1,600 d. Income Summary400 Salaries Expense400Please no written by hand solutions Can someone please explain these two questions? 1. Which of the following statements is false? A) An expense is a cost incurred to generate revenues. B) Revenues result in an increase in net income and additional paid-in capital. C) Revenues are reported on the income statement as they are earned. D) Incurring an expense occurs with a decrease in assets or an increase in liabilities. 2. Kronic Ltd. sold inventory costing Kronic $500 for $900 on account. Provide the journal entries required at the time of sale.
- 1) What is the Net Income in the Income Statement at the year-end? a) $81,500 b) $79,500 c) None of the above d) $88,500 What is the Total Expense in the Income Statement at the year-end? a) 16,300 b) $17,500 c) $95,000 d) 15,500 3. What is the Total End Retained Earnings in the Financial Statement at the year-end? a) $16,000 b) $63,500 c) $0 d) $79,500A. Calculate the ending balance for each account. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Assets Liabilities Owner’s Equity Cash Inventory Equipment AccountsPayable WagesPayable CommonStock RetainedEarnings 1 $50,000 $50,000 2 (6,000) $6,000 3 $25,000 $25,000 4 1,250 $1,250 5 (750) (750) 6 600 (600) 7 $3,500 (3,500) 8 3,200 3,200 9 250 (250) 10 (1,000) 1,000 Ending Balance $ $ $ $ $ $ $ $ $ B. Create the income statement. Use minus sign to indicate the loss. Pancake Palace Income Statement For the Month Ended July 31 $ $ C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign. Pancake Palace Statement of Owner's Equity…The two numbers are still wrong -49800 under retained earnings and -77200 under account payable even after taking out the negaiuve in front of it. Please provide a more accurate answer that is actuallyn the right answer please???????????
- 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$16,000Please help me solve the following problems. Please be as clear as possible and no typos please :)1) Revenue $18,000Dividends $6,000Expenses $10,0001/1 Retained Earnings $4,00012/31 Retained Earnings-unknown2) Revenue $63,000Dividends $21,000Expenses $38,0001/1 Retained Earnings -unknown12/31 $16,0003) Revenue $46,000Dividends-unknownExpenses $30,0001/1 Retained Earnings $13,00012/31 Retained Earnings $22,0004) Revenue $97,000Dividends $0Expenses-unknown1/1 Retained Earnings $36,00012/31 Retained Earnings $57,0005) Revenue-unknownDividends $80,000Expenses $70,0001/1 Retained Earnings $28,00012/31 Retained Earnings $32,000On a worksheet, the Income Statement debit column equals P798,000 and the credit columnequals P710,000. Which of the following statements is correct? a. The company realized a net income of P88,000 and it must be added to the Income Statementcredit column and the Balance Sheet debit column to complete the worksheet.b. The company incurred a net loss of P88,000 and it must be subtracted from the Income Statementdebit column and the Balance Sheet credit column to complete the worksheet.c. The company incurred a net loss of P88,000 and it must be added to the Income Statement creditcolumn and the Balance Sheet debit column to complete the worksheetd. The company realized a net income of P88,000 and it must be subtracted from the IncomeStatement credit column and the Balance Sheet credit column to complete the worksheet.
