intro to financial accounting

Chapter 1 Homework Submit your answers in CANVAS before it is due When Inputting your answers in CANVAS do not include $ signs or commas in your answers. DO NOT Include words in your answer unless specifically asked. Use the following information to answer questions 1-10 For each item, determine the type of account (Asset, Liability, Stockholder's Equity, Dividends, Revenue or Expense) and the type of activity (Operating, Investing or Financing) When answering the question, ineut ONLY the first letter, for example: f the answer was Llability inputL as the answer. Type of Activity O, 1, F Item Type of Account A.L, SE, D, R orE Borrowed from the bank 2. 1. Provided services to a customer 4. 3. Used cleanings supplies to clean store 6. 5. Issued stock to owners 8. 7. Purchased land 9. 10. Use the following to answer questions 11-14 TR Corp reports the following amounts at the end of the year: Common stock $300,000 Expenses 250,000 Assets 900,000 Revenues 395,000 Dividends 100,000 Liabilities 425,000 11. $ Calculate net income. Calculate stockholders' equity at the end of the period. 12. $ 13. $ Calculate ending retained earnings: 14. $ Calculate beginning retained earnings: Page 1-10 Chapter 1 Spring 2020