Homework Answers
Answer:
Calculation of retain earning :
Land = 3200
Accounts recivable =3400
Cash =4000
Total =$10,600
Less:Accounts payab. =1800
comman stock =3900
Dividents = 2000
Retain earning =2900
Add" Profit =1000(3200-2200
Retain Earning =$3900 Answer:
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16 The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common stock Revenue Expense $3,400 $3,900 $3,200 $2,200 Ask Print The amount of net income shown on Carolina's Year 1 income statement would amount to: Multiple Choice $2,200. $3,200. $1,000 $200
uiz Saved Help Save & Exit The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common stock Revenue Expense $3,400 $3,900 $3,200 $2,200 Total assets on Carolina's December 31, Year 1 balance sheet would amount to: Multiple Choice $12,600 $13,800 $7.200. $10,600
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solve for net income, liablilities , assets, retained
earnings
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