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All 4 questions please and thank you! During the period 2016, Red Rock Energy delivered disk drives for which customers paid or promised to pay
All 4 questions please and thank you!
During the period 2016, Red Rock Energy delivered disk drives for which customers paid or promised to pay amounts totaling $37,436,000. During the same period, it collected $33,563,000 in cash from its customers. Which of these two amounts will be shown on Red Rock's income statement as sales revenue for 2016? During the period 2016, Red Rock produced disk drives with a total cost of production of $27,130,000. During the same period, it delivered to customers disk drives that had cost a total of $26,980,000 to produce. Which of the two numbers will be shown on Red Rock's income statement as cost of goods sold expense for 2016? Red Rock's statement of retained earnings reports the way that net income and the distribution of dividends affected the financial position of the company during the accounting period. In a prior period, Red Rock's financial statements reported the following amounts: beginning retained earnings $5,510, total assets $20,450, dividends $900, cost of goods sold expense $19,475, net income $1,780. Compute ending retained earnings. During the period 2016, Red Rock delivered disk drives to customers who paid or promised to pay a total of $37,436,000. During the same period, it collected $33,563,000 in cash from customers. Which of the two amounts will be shown on Red Rock's cash flow statement for 2016Step by Step Solution
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