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1. A company's books contain the following information as of December 31, 2021: Current assets $68,000, Non-current assets 28,000, Current obligations 13,000, Non-current obligations 50,000.
1. A company's books contain the following information as of December 31, 2021: Current assets $68,000, Non-current assets 28,000, Current obligations 13,000, Non-current obligations 50,000. The initial balance (balance) on Shareholder Heritage was $15,000. Expenses were $27,000 during 2021. No dividends were declared. What were the total revenues for 2021? (Ignore the contributory effect) 2. Below is information obtained from a company's financial statements for 2020. Retained Earnings, 31/12/20: $650,000 Sales Revenue: 1,500,000 Sales and Administrative Expenses:240,000 Dividing your common stock in declared cash:33,600 Cost of Goods Sold: 880,000 Land Disposition Gain: 120,000 Other Comprehensive Income by 2021: 20,000 Other Accumulated Comprehensive Income, 31/12/21: 30,000 Using the information provided, indicate what is the Comprehensive Income reported by the company in the 2020 financial statements. 3. A company receives only cash. At the beginning of 2021 the "Refund Liability" account had a balance of $32,000. Sales in 2021 were: $600,000. It is estimated that 6% of sales will be returned. During 2021, refunds of $28,000 were accepted. This company Revenue and Expense Statement will report Net Sales for
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