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please help with all! a. 1. To show how successfully a business performed during a period of time, one would report its revenues and expenses
please help with all!
a. 1. To show how successfully a business performed during a period of time, one would report its revenues and expenses in the balance sheet. *b. income statement statement of cash flows. retained earnings statement. c. d. 2. Entity A began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of 540,000. What was Entity A's retained earnings at the end of the year? $540,000 *b. $460,000 $840,000 $500,000 a. c. d. a. 3. If total liabilities decreased by $90,000 and stockholders' equity increased by $30,000 during a period of time, then total assets must change by what amount and direction during that same period? $120,000 increase *b. $60,000 decrease $60,000 increase d. $90,000 decrease 4. Entity B has current assets of $1,800,000 and current liabilities of $750,000. If it pays $350,000 of its accounts payable what will its new current ratio (rounded) be? 3.6:1 [1450/400) c. *a. b. C. d. 2.4:1 4.5:1 2.0:1 5. a. b. Which accounts normally have debit balances? Assets, expenses, and revenues Assets, expense, and retained earnings Assets, liabilities, and dividends Assets, expenses, and dividends c. *d. 6. Entity C purchased a 12-month insurance policy on March 1, 2022 for $2,400. At December 31, 2022, after adjusting entries are made, what amount will be reflected as prepaid insurance on the balance sheet? $2,400. $2,000. b Step by Step Solution
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