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Can I get some assistance on this accounting problems with all tab. Thank you! The following selected accounts and account balances were taken from the
Can I get some assistance on this accounting problems with all tab. Thank you!
The following selected accounts and account balances were taken from the records of Merida's Archery Training Company. Except as otherwise Indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Conwalting revenue Cash Cash received from common stock inged during Year Travel expense Dividends Cash flow from investing activities Rent expense Payment to reduce debt principal Retained carnings, January 1, Year 2 Salary expense Cash flow from operating activities Common stock, December 31, Year 2 Other operating expenses $ 9,500 7,800 3,800 600 1.700 2,600 1,900 23,200 14,300 3,000 2,700 11,500 1,600 Required a. Prepare the income statement Merida's Archery Training would include in its Year 2 annual report b. Identify the accounts that should be closed to the Retained Earnings account. 1. Determine the Retained Earnings account balance at December 31, Year 2. c-2. Which of the following statement(s) is true? Complete this question by entering your answers in the tabs below. Reg A Reas Reg 1 Reg 2 Prepare the income statement Merida's Archery Training would include in its Year 2 annual report MERIDA'S ARCHERY TRAINING COMPANY income statement For the Year Ended December 31. Yara w Req A Reg B Reg C1 Reg C2 Prepare the income statement Merida's Archery Training would include in its Year 2 annual report. MERIDA'S ARCHERY TRAINING COMPANY Income Statement For the Year Ended December 31, Year 2 Expenses Total expenses ReqB > Complete this question by entering your answers in the tabs below. Req A ReqB Reg CI Reg C2 Identify the accounts that should be closed to the Retained Earnings account. (Select All That Apply.) . JOULD Salarios payable Consulting revenue Dividends Accounts Receivable Cash Travel expense Rent expense Salary expense Other operating expense Reg A ReqC1 > Complete this question by entering your answers in the tabs below. Req A Reg B Reg Ci Reg C2 Determine the retained Earnings account balance at December 31, Year 2. Retained earning Complete this question by entering your answers in the tabs below. Req A Reg B Reg C1 Reg C2 Which of the following statement(s) is true? (Select All That Apply.) JOIDI Net income does not include revenue of the current year Retained earnings does not include current year net income, but only the balance from previous years Retained earrings not only includes current year net income, but also the balance from previous years and reductions for dividends Retained earnings does not include the balance from previous years, but only the reductions for dividends Net income only includes revenues and expenses for the current year Step by Step Solution
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