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Based on the following items shown on the adjusted trial balance sheet for the year 2022, calculate the balance of retained earnings shown on the balance sheet at the end of the year 2022. Accounts Dr. ($) Cr. ($) Cash 1,000 Inventory 50,000 Prepaid expense 400 Unearned revenue 800 Sales revenue 50,000 COGS 15,000 Loss on PPE revaluation (P&L) 3,000 Gains on Land revaluation (OCI) 700 Dividend payable 2,000 Declared dividend 6,000 Retained earnings (o/b) 30,000 General reserve 5,000 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Based on the following items shown on the adjusted trial balance sheet for the year 2022, calculate the balance of retained earnings shown on the balance sheet at the end of the year 2022. Accounts Dr. ($) Cr. ($) Cash 1,000 Inventory 50,000 Prepaid expense 400 Unearned revenue 800 Sales revenue 50,000 COGS 15,000 Loss on PPE revaluation (P&L) 3,000 Gains on Land revaluation (OCI) 700 Dividend payable 2,000 Declared dividend 6,000 Retained earnings (o/b) 30,000 General reserve 5,000 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the following items shown on the adjusted trial balance sheet for the year 2022, calculate the balance of retained earnings shown on the balance sheet at the end of the year 2022. Accounts Dr. ($) Cr. ($) Cash 1,000 Inventory 50,000 Prepaid expense 400 Unearned revenue 800 Sales revenue 50,000 COGS 15,000 Loss on PPE revaluation (P&L) 3,000 Gains on Land revaluation (OCI) 700 Dividend payable 2,000 Declared dividend 6,000 Retained earnings (o/b) 30,000 General reserve 5,000

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  • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
  • Answer completely.
  • You will get up vote for sure.
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