ParrishSheets Chapter 1 Homework Quiz ndria Henshaw Attempt

Parrish-Sheets Chapter 1 Homework Quiz ndria Henshaw: Attempt 1 Question 43 (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 $97,000 S 0 $36,000 $57,000 Make sure your answer does not include a \"$\" (dollar sign) or\"n number; such as \"55000\". abs Save

Solution

Statement of retained earnings December 31 retained earnings, balance 57,000 Add: Dividends 0 57,000 less:January 1,retained earnings balance -36,000 Net income 21,000 Expenses will be as follows: Revenue 97,000 less:Net income as calucalted above -21,000 Expense 76,000 answer