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Hello, Please Solve the Mentioned Question in the Picture Properly. Please, Solve Part One only from given data. Prepare Retained Earning Statement for the year
Hello, Please Solve the Mentioned Question in the Picture Properly.
Please, Solve Part One only from given data. Prepare Retained Earning Statement for the year 2004. If still not visible, please let me know as soon as possible. Thanks alot
Q1: (Multi-step Income Statement & Statement of Retained Earnings) Presented below is information related to Walt Disney Company for 2004 Retained earnings balance. Jamry 1.3064 S850,000 Sales for the year 39,000,000 Cost of goods sold 19,000,000 Depreciation Expense mistakenly not reported in 2002 32.000 Telephone Expenses Sales 27,000 Advances from customers 117.000 Interest revenue 70,000 Rental revenue 50,000 80,000 0.000 20.000 820,000 15.000 25.000 Write-off of inventory due to obsolescence Accumulated depreciation Equipment Accumulated depreciation Building Write-off of goodwill (Infrequent or Unusual hiem) Sales Discount Sales Return Overstatement of income due change in inventory costing method Prepaid insurance Income taxes for 2004 Travel and entertainment Expenses Advertising Expenses Transportation-out Expenses Sales commissions Gain on the sale of short term securities Los due to flood damage-extraordinary item Low on the disposition of the wholesale division Loss on operations of the wholesale division Dividends declared and paid on common slock Dividends declared and paid on preferred stock 88.000 200,000 905.000 69.000 $4,000 93,000 83.000 110,000 390,000 400,000 90,000 250,000 70.000 Requirement trepare a multi-step income statement. American Horse Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, American Horse sold the wholesale operations to Rogers Company. During 2004, there were 300.000 shares of common stock outstanding all year 106) 02: Using the data given in question of answer the following 104 Prepare the Retained Earnings Statement for the year 2004 What is the conceptual different of discontinued operations from extraordinary sem? Q1: Multi-step Income Statement & Statement of Retained Earnings Presented below is information related to Walt Disney Company for 2014 Retained carings balance, January 1, 2004 Sales for the year Cost of goods sold Depreciation Expense mistakenly not reported in 2012 Telephone Expenses - Sales Advances from customers Interest revere Rental revenue 5 850.000 39,000,000 19.000.000 32.000 27.000 117.000 70.000 50.000 80,000 40,000 28.000 $20,000 15,000 25.000 Write-off of inventory due to obsolescence Accumulated depreciation Equipment Accumulated depreciation Building Write-off of goodwill Infrequent cr Usual tiem) Sales Discounts Sales Retum Cherstatement of income due change in inventory costing method Prepaid insurance Income taxes for 2004 Travel and entertainment Expenses Advertising Expenses Transportation-out Expenses Sales commissions Gain on the sale of short term securities Loos due to flood damage-extraordinary item Loss on the disposition of the wholesale division Los en operations of the wholesale division Dividends declared and paid on common stock Dividends declared and paid on preferred to 88,000 20,000 KIS,000 69,000 54,000 93,000 83,000 110,000 390,000 440,000 90,000 250,000 70,000 Requirement Q2. Using the data given in question answer the following Prepare the retained Earnings Statement for the year 2004, 104) What is the conceptual different of discontinued operations from extraordinary item? 102) Q1: (Multi-step Income Statement & Statement of Retained Earnings) Presented below is information related to Walt Disney Company for 2004. Retained earnings balance, January 1, 2004 Sales for the year Cost of goods sold Depreciation Expense mistakenly not reported in 2002 Telephone Expenses - Sales Advances from customers Interest revenue Rental revenue $ 850,000 39,000,000 19,000,000 32,000 27,000 117,000 70,000 50.000 Write-off of inventory due to obsolescence 80,000 Accumulated depreciation Equipment 40,000 Accumulated depreciation Building 28.000 Write-off of goodwill (Infrequent or Unusual Item) 820,000 Sales Discounts 15,000 Sales Return 25,000 Overstatement of income due change in inventory costing method 88,000 Prepaid insurance 20,000 Income taxes for 2004 905,000 Travel and entertainment Expenses 69,000 Advertising Expenses 54.000 Transportation-out Expenses 93,000 Sales commissions 83,000 Gain on the sale of short term securities 110,000 Loss due to flood damage-extraordinary item 390,000 Loss on the disposition of the wholesale division 440,000 Loss on operations of the wholesale division 90,000 Dividends declared and paid on common stock 250,000 Dividends declared and paid on preferred stock 70,000
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