Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to know which nouns I will fill in each blank in Requirement3, and the amount behind. ACC 231-4ite-Emett General Motors wants to det

image text in transcribed

I need to know which nouns I will fill in each blank in Requirement3, and the amount behind.

ACC 231-4ite-Emett General Motors wants to det 0/0 Homework: Ch. 1 Homework Save Score: 3.16 of 6 pts 6 of 7 (6 complete) HW Score: 75.82%, 15.16 of 20 pts W E1-31A (similar to) Question Help During 2018, Ripley Company earned revenues of $152 million. (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare the income statement (with a proper heading) for 2018 (Enter all amounts in millions. If a box is not used in the income statement, leave the box empty, do not select a label or enter a zero.) Ripley Company Income Statement Year Ended December 31, 2018 (millions) Revenue Revenue $ 152 Expenses Salary expense Rent expense $ 35 17 Utilities expense 23 Total expenses 75 Choose from any list or enter any number in the input fields and then click Check Answer. 1 part Clear All Final Check remaining ACC 231-4TS-Emett General motors wants to det 0/0 X Homework: Ch. 1 Homework Save Score: 3.16 of 6 pts 6 of 7 (6 complete) ore: 75.82%, 15.16 of 20 pts 2 E1-31A (similar to) Question Help During 2018, Ripley Company earned revenues of $152 million (Click the icon to view additional information.) Read the requirements. a cap 75 Total expenses $ 77 Net income (loss) Requirement 2. Prepare the statement of retained earnings (with a proper heading) for 2018. (Enter all amounts in millions. Include a subtotal after the "Add" line of the statement.) Ripley Company Statement of Retained Earnings Year Ended December 31, 2018 Retained earnings, December 31, 2017 (millions) $ 74 77 Add: Net income for the period Subtotal 151 Less: Dividends declared (15) nai---------------I--22040 $ 136 Choose from any list or enter any number in the input fields and then click Check Answer. part remaining Clear All Final Check ACC 231-AiHSB-Emett General motors wants to det 0/0 Homework: Ch. 1 Homework Save Score: 3.16 of 6 pts 6 of 7 (6 complete) HW Score: 75.82%, 15.16 of 20 pts %E1-31A (similar to) Question Help During 2018, Ripley Company earned revenues of $152 million (Click the icon to view additional information.) Read the requirements. Year Ended December 31, 2018 (millions) $ 74 Retained earnings, December 31, 2017 Add: Net income for the period Subtotal 77 151 Less Dividends declared (15) $ 136 Retained earnings, December 31, 2018 Requirement 3. Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Ripley Company Balance Sheet December 31, 2018 Assets (millions) Choose from any list or enter any number in the input fields and then click Check Answer. ? 1 part remaining Clear All Final Check ACC 231-Ait AEP-Emett General motors wants to det0/0 Homework: Ch. 1 Homework Save Score: 3.45 of 6 pts 6 of 7 (6 complete) HW Score: 77.23%, 15.45 of 20 pts Question Help %E1-31A (similar to) During 2018, Ripley Company earned revenues of $152 million. (Click the icon to view additional information.) Read the requirements y, ) Ripley Company Balance Sheet December 31, 2018 Assets (millions) Liabilities (in millions) Current liabilities: Current assets: Cash $ 155 7 Accounts receivable 80 Total current assets 235 Stockholders' equity 41 Property and equipment Other long-term assets 19 $ 295 Total assets Total liabilities and stockholders' equity Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Check Answer ACC 231-AIT-Emett General motors wants to det 0/0 Homework: Ch. 1 Homework Save Score: 3.16 of 6 pts 6 of 7 (6 complete) HW Score: 75.82%, 15.16 of 20 pts E1-31A (similar to) Question Help During 2018, Ripley Company earned revenues of $152 million (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare the income statement faith 2 monor boadinal for 2018 /Entor all amount in millione. If a box is not used in the incoge statement, leave the box empty, do not se More Info Revenue Revenue Ripley incurred, during that same year, salary expense of $35 million, rent expense of $17 million, and utilities expense of $23 million. Ripley declared and paid dividends of $15 million during the year. At December 31, 2018, Ripley had cash of $155 million, accounts receivable of $80 million, property and equipment of $41 million, and other long-term assets of $19 million. At December 31, 2018, the company owed accounts payable of $60 million and had a long-term note payable of $34 million. Ripley began 2018 with a balance in retained earnings of $74 million. At December 31, 2018, Ripley had total stockholders' equity of $201 million, which consisted of common stock and retained earnings. Ripley has a year-end of December 31 Expenses Salary exper Rent expens Utilities expe Print Done Total expenses 75 Choose from any list or enter any number in the input fields and then click Check Answer 1 part Clear All Final Check remaining

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions