Dashboard | deltacolleg X BUS 3 Financial Accounting 31494 X Question 2 - Test 1 Chapters 1, 2 X + tps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=http... s 1, 2 & 3 i Saved Help Save & Exit Submit Check my work Love Company's accounting records show an after-closing balance of $20,000 in its Retained Earnings account on December 31, Year 2. During the Year 2 accounting cycle, Love earned $16,300 of revenue, incurred $9,800 of expense, and paid $2,100 of dividends. Revenues and expenses were recognized evenly throughout the accounting period. Required a. Determine the balance in the Retained Earnings account as of January 1, Year 3. b. Determine the balance in the temporary accounts as of January 1, Year 2. c. Determine the after-closing balance in the Retained Earnings account as of December 31, Year 1. d. Determine the balance in the Retained Earnings account as of June 30, Year 2. a. Balance in the retained earnings, January 1, Year 3 b. Balance in the temporary accounts, January 1, Year 2 c. Closing retained earnings, December 31, Year 1 d. Balance in the retained earnings, June 30, Year 2 13. o search F4 F5 F6 3 W E R % 5 € < Prev 2 of 6 Next > 23 F7 B. acer F8 F9 F10 F11 Λ & * 7 6 7 8 8 9 Y U 5 10 2A F12 NumLk Prt Sc Pause Br Insert Dele +

Dashboard | deltacolleg X BUS 3 Financial Accounting 31494 X Question 2 - Test 1 Chapters 1, 2 X + tps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=http... s 1, 2 & 3 i Saved Help Save & Exit Submit Check my work Love Company's accounting records show an after-closing balance of $20,000 in its Retained Earnings account on December 31, Year 2. During the Year 2 accounting cycle, Love earned $16,300 of revenue, incurred $9,800 of expense, and paid $2,100 of dividends. Revenues and expenses were recognized evenly throughout the accounting period. Required a. Determine the balance in the Retained Earnings account as of January 1, Year 3. b. Determine the balance in the temporary accounts as of January 1, Year 2. c. Determine the after-closing balance in the Retained Earnings account as of December 31, Year 1. d. Determine the balance in the Retained Earnings account as of June 30, Year 2. a. Balance in the retained earnings, January 1, Year 3 b. Balance in the temporary accounts, January 1, Year 2 c. Closing retained earnings, December 31, Year 1 d. Balance in the retained earnings, June 30, Year 2 13. o search F4 F5 F6 3 W E R % 5 € < Prev 2 of 6 Next > 23 F7 B. acer F8 F9 F10 F11 Λ & * 7 6 7 8 8 9 Y U 5 10 2A F12 NumLk Prt Sc Pause Br Insert Dele +