Tarech Corporation engaged in activities during the first year of its operations that resulted in the following:
Question:
Tarech Corporation engaged in activities during the first year of its operations that resulted in the following: service revenue, $4,800; total expenses, $2,450; and dividends, $410. In addition, the year-end balances of selected accounts were as follows: Cash, $1,890; Other Assets,
$1,000; Accounts Payable, $450; and Common Stock, $500. In proper format, prepare the income statement, statement of retained earnings, and balance sheet for Tarech Corporation (assume the year ends on December 31, 20x6). (Hint: You must solve for the beginning and ending balances of retained earnings for 20x6.)
Return on Assets
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
1+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
