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Remaining Time: 37 minutes, 36 seconds. A Question Completion Status: Dla YL 12 El 14 15 16 17 18 19 The Retained Earnings for ABC Corporation at January 1, 2020 were $232,500. The corporation had 30.000 shares of common stock outstanding during the year 2020. During the year the following transactions occurred: A. The company discovered that it had mistakenly recorded the depreciation expense for 2019 as $23,000 while the correct amount war $22,000. B. Declared and paid a cash dividend of $ 1.20 per share. Declared and distributed a 5% stock dividend when the market price was $12 per share. D. Earned a net income of $ 160,000. Complete the below Retained Earnings Statement by filling up the blanks from the dropdown list. ABC Corporation Retained Earnings Statement For the Year Ended December 31, 2020 $ 232.500 Balance at January 1, as reported Correction of understatement of net income Balance at lanuary 1, as adjusted Add: 11 come minutes. 29 seconds. Question Completion Status Complete the below Retained Earnings Statement by filling up the blanks from the dropdown list. ABC Corporation Retained Earnings Statement For the Year Ended December 31, 2020 $ 232,500 Balance at January 1, as reported Correction of understatement of net income Balance at January 1, as adjusted Add: Net Income Less: Cash Dividends Stock dividends Balance at December 31, 2017 Question Completion Status 120 100 110 120 15 16 17 1 19 Question 19 spot ABC Corporation Comparative Balance Sheet December 31,2010 2020 2012 $ 45,500 16,300 25.000 35.000 (4.500) 117.300 $ 35.000 15.000 35,000 20.000 (2.500 $2.500 Assets Cash Accounts Receivables Land Equipment Accumulated Depreciation - Equipment Total Liabilities and Stockholders' Equity Accounts Payable Common Stocks Retained Earnings Total 1.500 $ 5 65.000 SO 100 $ 100 3.500 50.000 10.000 9.500 5 Additional Information 1. Net Income for 2020 was $ 32.00 2. The company paid $ 12,000 cash for evidence 3. Equipment costing $25,000 was purchased for cash 4 led common Mock for $15,000 cash The land was sold for 5 14,000 cash Remaining Time: 36 minutes, 46 seconds A Question Completion Status: 1 20 O20 1012 16 Based on the above given information, complete the below operating activities metics of the case for statement for ABC Company leyfa dropdown list. 15 18 19 ABC Company Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: $ 2.000 Increase in Accounts Receivable Decrease in Accounts Payable
