Please help me wih this question? Inhave attached it’s bothering parts Critz Company was started on January 1, Year 1. During the month of January, Critz earned $7,500 of revenue and incurred $4,800 ofexpenses. During the remainder of Year 1, Critz eamed $86,000 and incurred $51,000 of expenses. Critz closes its books onDecember 31 of each year.Requireda. Determine the balance in the Retained Earnings account as of January 31, Year 1.b. Determine the balance in the Revenue and Expense accounts as of January 31, Year 1.c. Determine the balance in the Retained Earnings account as of December 31, Year 1, before closing.d. Determine the balances in the Revenue and Expense accounts as of December 31, Year 1, before closing.e. Determine the balance in the Retained Earnings account as of January 1. Year 2.f. Determine the balance in the Revenue and Expense accounts as of January 1, Year 2Complete this question by entering your answers in the tabs below.Req A and BReq C and D Req Eand FDetermine the balanc es in the Retai ned E ar nings, Revenue and Expense acc ounts as of December 31, Year 1,before closing.Year 1c Retained earningsd. Rev enueExpens e( Reg A and BReq E and F Critz Company was started on January 1. Year 1. During the month of January. Critz earned $7,500 of revenue and incurred $4,800 ofexpenses. During the remainder of Year 1. Critz eamed $86,000 and incurred $51,000 of expenses. Critz closes its books onDecember 31 of each year.Requlreda. Determine the balance in the Retained Earnings account as of January 31, Year 1.b. Determine the balance in the Revenue and Expense accounts as of January 31, Year 1.c. Determine the balance in the Retained Earnings account as of December 31, Year 1, before closing.d. Determine the balances in the Revenue and Expense accounts as of December 31, Year 1, before closing.e. Determine the balance in the Retained Earnings account as of January 1. Year 2.f. Determine the balance in the Revenue and Expense accounts as of January 1, Year 2Complete this question by entering your answers in the tabs below.Reg Aand BReq Cand DReq Eand FDetermine the balanc es in the Retai ned E arnings, Revenue and Expens e accounts as of January 31, Year 1.Year 1a. Retained earningsb. RevenueExpens eReq C and D >Dw

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Critz Company was started on January 1, Year 1. During the month of January. Critz earned $7,500 of revenue and incurred $4,800 of expenses. During the remainder of Year 1, Critz eamed $86,000 and incurred $51,000 of expenses. Critz closes its books on December 31 of each year. Requlred a. Determine the balance in the Retained Earnings account as of January 31, Year 1. b. Determine the balance in the Revenue and Expense accounts as of January 31, Year 1. c. Determine the balance in the Retained Earnings account as of December 31, Year 1, before closing. d. Determine the balances in the Revenue end Exn

Critz Company was started on January 1, Year 1. During the month of January. Critz earned $7,500 of revenue and incurred $4,800 of expenses. During the remainder of Year 1, Critz eamed $86,000 and incurred $51,000 of expenses. Critz closes its books on December 31 of each year. Requlred a. Determine the balance in the Retained Earnings account as of January 31, Year 1. b. Determine the balance in the Revenue and Expense accounts as of January 31, Year 1. c. Determine the balance in the Retained Earnings account as of December 31, Year 1, before closing. d. Determine the balances in the Revenue end Exn

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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