Please help with 2835 Use the following to answer questions

Please help with 28-35

Use the following to answer questions 28-35 CCT Corporation has provided their trial balance at the end of January. Accounts receivable Supplies 952,1001 Buildings/Equipment, net Accounts payable income tax payable Utilêties payable Deferred revenue Notes payable 22.400 6,500 450,000 Common stock Retained Earnings 195,400 Dividends Service revenue Salaries expense 21,000 242,000 Advertising expense Supplies expense Depreciation expense Rent expense Utilities expense Totals 60,000 100 Based on the data provided in the trial balance find the following: Determine Total expenses Determine Net income Determine Beginning Retained Earnings Determine Ending Retained Earnings Determine Total Stockholders Equity Determine Total Liabilities Determine Total Assets At the beginning of January·CCT had $315,000 in its common stock account. How much stock 28. $ 32. S 34. $ was issued during January? Chapter 2 Spring 2018 Page 2-10

Solution

Total expenses is = Salaries expense +Insurance expenses + Supplies expenses+Advertising expenses+Depreciation + Rent expenses+ Utilities expenses = 436500+21000+242000+2300+75000+60000+40300

Total expenses is = 877,100

29)Net income is = Service revenue - total expenses

That is = 972000-877100 = 94,900/-

30) Beggining retained earnings is = 195,400/-

31) Ending retained earnings is = 195400+94900-50000

That is = 240,300/-