FIND REVENUE Find the revenue for this problem and please provide the equation and method you came to find the correct answer. Please explain clearly. Revenues UNKNOWN Dividends declared $80000 Expenses $70000January 1 retained earnings $28000December 31 retained earnings $32000

FIND REVENUE Find the revenue for this problem and please provide the equation and method you came to find the correct answer. Please explain clearly. Revenues UNKNOWN Dividends declared $80000 Expenses $70000January 1 retained earnings $28000December 31 retained earnings $32000

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

FIND REVENUE

Find the revenue for this problem and please provide the equation and method you came to find the correct answer. Please explain clearly.

Revenues UNKNOWN

Dividends declared $80000

Expenses $70000

January 1 retained earnings $28000

December 31 retained earnings $32000

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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eek 1 Statement Matching Amortization JORN BART Accounts Payable R Cash Receipts Land Net Cash Depreciation Expense Net Income Purchased Office Equipment Cash Payments Equipment Cost of Goods Sold Dividends Paid Current Assets Interest Expense Cash From Investing Activities Balance of Retained Earnings Allowance for Doubtful Accounts Cash & Cash Equivalents Accounts Receivable Current Liabilities ㅂㅇㄹ F6 A F7 & J 2⁰ Balance Sheet 8 F8 * Income Statement F9 prt sc F10 C Cash Flow Statement home F11 ㅅ end Retained Earnings Statement F12 (4) J insert
Need clarification on an answer I was given. The problem was to find out the cost of Dividends declared. Revenue $5000 Dividends declared??? $Unkown Expenses $4000 RE 1/1 $8000 RE 12/31 $6000 I was givent this equation on how to solve and find the unknown Dividends declared. DD=RE 1/1+Revenue-Expenses-RE 12/31 DD=$8000+$5000-$4000-$3000 DD=$6000 He or She then added this 1) RE 1/1 balance is $6000 2) RE 12/31 is $9000 3) Dividend Declared $6000 **So how did he get the new amounts for REs?***
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Calculate the other income from the following Information Dividends income 1000 Opening stock 27800 Accounts payable 18000 Accounts receivable 123000 Prepaid expense 25100 Rental revenue 5200 Interest expenses 1450 Interest Income 8540 Select one: a. OMR 9450 O b. OMR 6200 c. OMR 14740 O d. OMR 1000
1. Total Trial Balance on the Debit side is: A. 530000 B. 52000 C. 502000 D. 492000 2. What is the Journal Entry for Dividend declared? A. 10000 B. Dividend debit 10000 and A/P credit C. None of the above D. Dividend 10000 Dividend Payable 10000 3. What is the Depreciation Expense-Equipment balance in the Trial Balance? A.12000 B. 6000 C. 60000 D. 0
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