Homework Help Question & Answers

Drawings $25,000; Loan $75,000; Profit for the year $100,000: Accounts Receivable $20,000: Wtatie dhe Raiaiseat Beginning...




Drawings $25,000; Loan $75,000; Profit for the year $100,000: Accounts Receivable $20,000: Wtatie dhe Raiaiseat Beginning $50
Drawings $25,000; Loan $75,000; Profit for the year $100,000: Accounts Receivable $20,000: Wtatie dhe Raiaiseat Beginning $50,000: Prepaid Rent $13,00: Sales $0,000. What is the Retained Earnings at End? $225,000 $150,000 $125,000 none of the above
0 0
Add a comment
Answer #1

Ending retained earnings = Beginning retained earnings + net income - Dividends distributed

= 50,000 + 100,000 - 0

= 150,000

Option B is the answer

Comment if you face any issues

Add a comment
Know the answer?
Add Answer to:
Drawings $25,000; Loan $75,000; Profit for the year $100,000: Accounts Receivable $20,000: Wtatie dhe Raiaiseat Beginning...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coin

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000...

    MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000 650,000 Net plant and equipment $1,000,000 Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable 100,000 Accrued expenses 90,000 Long-term debt Common stock 250,000 100,000 Paid-in capital 50,000 Retained earnings 410,000 $1,000,000 Total liabilities and stockholders' equity MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $2,000,000 1,750,000 Cost of goods sold Gross profit 250,000 Sales and administrative expenses 30,000...

  • Castaway Co. Balance Sheet Assets: 20X1 100,000 20X2 100,000 Cash 48,000 30,000 Accounts Receivable Inventory Prepaid...

    Castaway Co. Balance Sheet Assets: 20X1 100,000 20X2 100,000 Cash 48,000 30,000 Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Dep BV of Equipment Land 65,000 6,000 125,000 25,000 100,000 50,000 369,000 $ 50,000 12,000 300,000 35,000 265,000 20,000 477,000 $ Total Assets Liabilities: Accounts Payable 40,000 45,000 Insurance Payable O 250,000 5,000 200,000 Notes Payable Total Liabilities 290,000 250,000 OE: Stock 69,000 200,000 Retained Earnings 10,000 27,000 Total OE 79,000 227,000 Total Liabilities + OE 369,000 477,000 Castaway Co. Income...

  • River Corporation had the following beginning balances: Cash $120,000 Accounts Receivable 40,000 Supplies 25,000 Accounts Payable...

    River Corporation had the following beginning balances: Cash $120,000 Accounts Receivable 40,000 Supplies 25,000 Accounts Payable 20,000 Common Stock 50,000 Retained Earnings 115,000 If ending assets for River Corporation were $200,000, net income was $75,000, and dividends paid were $20,000, what was ending liabilities for River Corporation. Show your work to receive full and partial credit.

  • The following is selected financial information for West Company: Cash $ 40,000 15,000 125,000 75,000 20,000...

    The following is selected financial information for West Company: Cash $ 40,000 15,000 125,000 75,000 20,000 Prepaid insurance Retained earnings Inventory Unearned revenue Salary expense Depreciation expense Property, plant, and equipment Accumulated depreciation Accounts payable Long-term notes payable (due in 5 years) Sales revenue 75,000 25,000 450,000 90,000 100,000 275,000 418,000 5,000 50,000 85,000 220,000 Salaries payable Common stock Accounts receivable Cost of goods sold What is the amount of West Company's total liabilities? A. $100,000 B. $105,000 C.$125,000 D....

  • prepaid expenses = $50,000 Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable...

    prepaid expenses = $50,000 Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...

  • (prepaid expenses are $50,000) Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable...

    (prepaid expenses are $50,000) Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...

  • Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net...

    Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $30,000 so, sou Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of Sales: $300,000...

  • Calculate the accounts receivable turnover, average collection period (days), inventory turnover, fixed asset turnover, and total...

    Calculate the accounts receivable turnover, average collection period (days), inventory turnover, fixed asset turnover, and total asset turnover for each period. X2 X3 X4 $2,500,000 3.200,000 3,500,000 4,000,000 1.900.000 2400.0002.700.000 3200.000 800,000 400,00D 25,000 200,000 10.000 20.000 30.000 60.000 15,000 107,500 COST OF GOODS SOLD GROSS PROFIT SELLING & ADMINISTRATIVE EXPENSE DEPRECIATION LEASES MISCELLANEOUS EXPENSE 600,000 400,000 800,000 800,000 400,000 160,000 190,000 138,700 25,000 175,000 170,000 89,000 EARNINGS BEFORE INTEREST & TAXES INTEREST EARNINGS BEFORE TAXES TAXES (35%) NET INCOME...

  • Need help in preparing normal or required equity-method entries related to the investment in Rebecca Company...

    Need help in preparing normal or required equity-method entries related to the investment in Rebecca Company during 20XX. And need help in preparing a consolidation worksheet As of December 31, 20XX and for Year Ended December 31, 2 Pauline Rebecca Income Statement Sales Less: COGS Less: Depreciation Expense Less: Other Expenses Income from Rebecca Net Income 800,000 (200,000) (50,000) (225,000) 75,000 400,000 250,000 (125,000) (10,000) (40,000) 75,000 Statement of Retained Earnings Beginning Balance Net Income Less: Dividends Declared Ending Balance...

  • Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000...

    Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000 85,000 95,000 100,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for sale Ending inventory, finished goods Cost of goods sold 125,000 160,000 340,000 250,000 520,000 35,000 345,000 20,000...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT