you have a job, working for Big Stuff. Today, you worked four hours and expect to be paid next week at a rate of $15 per hour, or $60. When on the way home, you put gas in your car to replace what you used today. You put the charge $20 on your credit card. After that, you stopped by Big Stuff, and bought a birthday card for Aunt Betty, and a stamp for it before putting it in the mail. You put the charge of $7 on your credit card. Before leaving, you stopped by the office and picked up a pay stub that told you that you have earned a total of $225 since Beginning your first job at Big Stuff. That pay stub did not include the money that you earned for working today. You have not used any of your earnings before today.

By applying the BASE Method to the Retained Earnings Account:

1. What is your Ending Balance of Retained Earnings?

2. What was the Beginning Balance of the Revenue Account for Today?

Tip- Hint about this Question. Is Revenue Picture Account on the Balance Sheet like Cash and Retained Earnings, or is it a Movie showing a Change during the Period?