ParrishSheets Chapter 1 Homework Quiz ndria Henshaw Attempt

Parrish-Sheets Chapter 1 Homework - Quiz ndria Henshaw: Attempt 1 Question 40 (1 point) Calculate the missing amount for each of the following situations. Revenues for 2014 Dividends declared in 2014 Expenses for 2014 January 1 retained earnings balance December 31 retained earnings balance $18,000 $ 6,000 $10,000 S 4,000 Make sure your answer does not include a \"$\" (dollar sign) or number; such as \"55000\". abs Save Question 41 (1 point)

Solution

Revenues for 2014 18000 Expenses for 2014 10000 Net Income 8000 Retained Earnings A/c Jan 1 . Retained Earnings 4000 Add:Current Year Net Income 8000 Dec 31.Closing Balance 12000 ANSWER: Dec 31.Closing Balance 12000