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As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C > As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >

As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C > As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 2CE
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As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >
Transcribed Image Text:As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >
As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >
Transcribed Image Text:As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 3, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 2. b. & c. In the accounting equation table, record the beginning account balances, revenue, expense, and dividend events under the appropriate headings of the accounting equation. d. Complete the table below to prove the equality of the accounting equation as of December 31, Year 3. Complete this question by entering your answers in the tabs below. Req A Req B and C Req D Determine the amount of retained earnings as of December 31, Year 2. Retained earnings Reg A Req B and C >
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