QUESTION 9 For the year ended December 31, Year 2 For the year ended December 31, Year 1 $ 6,500 $ 500 Revenues 1,500 Expenses Net Income December 31, Year 2 December 31, Year 1 $ 16,500 $1,000 Assets 500 Liabilities 300 300 Stock $. $ 200 Retained Earnings Assume Year 1 is the company's first year of business and there were no dividends in Year 1 or Year 2. After determining the missing amounts ($. December 31, Year 2 Retained Earnings $. in the above financial statements, calculate and type in the

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 9
For the year ended December 31,
Year 1
For the year ended December 31,
Year 2
$ 6,500
$ 500
Revenues
1,500
Expenses
Net Income
December 31, Year 2
December 31, Year 1
$ 16,500
$ 1,000
Assets
500
Liabilities
300
300
Stock
$.
$ 200
Retained Earnings
Assume Year 1 is the company's first year of business and there were no dividends in Year 1 or Year 2. After
determining the missing amounts ($.
December 31, Year 2 Retained Earnings $
)in the above financial statements, calculate and type in the
Transcribed Image Text:QUESTION 9 For the year ended December 31, Year 1 For the year ended December 31, Year 2 $ 6,500 $ 500 Revenues 1,500 Expenses Net Income December 31, Year 2 December 31, Year 1 $ 16,500 $ 1,000 Assets 500 Liabilities 300 300 Stock $. $ 200 Retained Earnings Assume Year 1 is the company's first year of business and there were no dividends in Year 1 or Year 2. After determining the missing amounts ($. December 31, Year 2 Retained Earnings $ )in the above financial statements, calculate and type in the
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