ParrishSheets Chapter 1 HomeworkQuiz andria Henshaw Attempt

Parrish-Sheets Chapter 1 Homework-Quiz andria Henshaw: Attempt 1 Question 14 (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 $5,000 $4,000 $8,000 $3,000 Make sure your answer does not include a \"$\" (dollar sign) or number; such as \"55000\". ab Save Question 15 (1 point)

Solution

        Jan - Dec of 2014       -       Revenue                       $ 5,000

(Less) Jan - Dec of 2014       -       Expenses                     $ 4,000

                                                                                -----------------

                 Retained Earning for 2014          $ 1,000

    (Add)     Retained Earnings available prior to 2014             $ 8,000

                 (Retained earning on 1st Jan )

   (Less)     Retained Earnings available after dividend paid     $ 3,000

                 (Retained earning on 31st Dec )

                                                                           -----------------

        Funds utilised for Dividend payment in 2014     $ 6,000

                                                                             -----------------