Question
CAN YOU PLEASE LIST THE STEPS ON HOW YOU GOT THE ANWSER ***** Thank you ! A. Retained Earnings at the beginning and ending of
CAN YOU PLEASE LIST THE STEPS ON HOW YOU GOT THE ANWSER ***** Thank you !
A. Retained Earnings at the beginning and ending of the accounting period was $750 and $1,600, respectively. If revenues were $2,900 and dividends paid to stockholders were $650, expenses for the period must have been |
$2,250.
$2,050.
$1,400.
$850.
B.
La Paz Company engaged in the following transactions during 2012, its first year in operation: (Assume all transactions are cash transactions) |
1. Acquired $4,800 cash from issuing common stock. 2. Borrowed $3,100 from a bank. 3. Earned $4,000 of revenues. 4. Incurred $2,580 in expenses. 5. Paid dividends of $580. La Paz Company engaged in the following transactions during 2013: 1. Acquired an additional $1,400 cash from the issue of common stock. 2. Repaid $1,930 of its debt to the bank. 3. Earned revenues, $5,400. 4. Incurred expenses of $3,110. 5. Paid dividends of $1,720.
The amount of liabilities on La Paz's 2013 balance sheet was?
C. Revenue on account amounted to $5,200. Cash collections of accounts receivable amounted to $4,900. Cash paid for expenses was $3,600. The amount of employee salaries accrued at the end of the year was $1,400. Cash flow from operating activities was |
$1,300.
$1,400.
$1,600.
None of these.
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