AВDEFGQuestionE1.16 (LO 5), AP The following information is related to Alexis and Ryans, Attorneys at Law.Retained earnings, January 1, 2022$ 23,000Legal service revenue-2022340,000Total expenses-2022211,000Assets, January 1, 2022Liabilities, January 1, 202285,00062,000Assets, December 31, 2022168,000Liabilities, December 31, 202280,000Dividends-202264,000InstructionsPrepare the 2022 retained earnings statement for Alexis and Ryans, Attorneys at Law.AnswerNet Income CalculationLegal service revenueTotal expenses340,000211,000Net income129,000Alexis and Ryan, Attorneys at LawRetained Earnings StatementFor the Year Ended December 31, 2022Add:Less:*enter as positive number$

Lets understand the basics. Retained earnings is a earnings which is retained in the business. In…

Question E1.16 (LO 5), AP The following information is related to Alexis and Ryans, Attorneys at Law. Retained earnings, January 1, 2022 $ 23,000 Legal service revenue–2022 340,000 Total expenses–2022 211,000 Assets, January 1, 2022 85,000 Liabilities, January 1, 2022 62,000 Assets, December 31, 2022 168,000 Liabilities, December 31, 2022 Dividends-2022 80,000 64,000 Instructions Prepare the 2022 retained earnings statement for Alexis and Ryans, Attorneys at Law. Answer Net Income Calculation Legal service revenue 340,000 Total expenses 211,000 Net income 129,000 Alexis and Ryan, Attorneys at Law Retained Earnings Statement For the Year Ended December 31, 2022 Add: Less: *enter as positive number 2$

Question E1.16 (LO 5), AP The following information is related to Alexis and Ryans, Attorneys at Law. Retained earnings, January 1, 2022 $ 23,000 Legal service revenue–2022 340,000 Total expenses–2022 211,000 Assets, January 1, 2022 85,000 Liabilities, January 1, 2022 62,000 Assets, December 31, 2022 168,000 Liabilities, December 31, 2022 Dividends-2022 80,000 64,000 Instructions Prepare the 2022 retained earnings statement for Alexis and Ryans, Attorneys at Law. Answer Net Income Calculation Legal service revenue 340,000 Total expenses 211,000 Net income 129,000 Alexis and Ryan, Attorneys at Law Retained Earnings Statement For the Year Ended December 31, 2022 Add: Less: *enter as positive number 2$

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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A1 please help
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5 Required information Phil Williams and Liz Johnson are 60% and 40% partners, respectively, in Williams & Johnson Partnership. Their beginning basis is $33,000 for Phil and $31,000 for Liz. The partnership had the following activity during the year: Income Interest income Dividend income (qualified) Long-term capital gains Total revenue Expenses Salaries and wages (nonpartners) Guaranteed payments Williams Johnson Depreciation (MACRS-includes $9,000 $ 179 expense) Interest expense Taxes and licenses Meals (100%) Auto Insurance (nonpartner health) Accounting and legal Repairs Charitable contributions Payroll penalties Total expenses Net income $ 336,123 1,259 4,586 13,458 $ 355,426 $ 47,000 Williams & Johnson Partnership's non-financial information is as follows: • Name: Williams and Johnson Partnership 75,000 50,000 41,888 5,220 15,548 15,257 5,254 6,000 2,800 1,200 2,500 500 $ 268,167 $ 87,259 Check m
Plz both answer with explain plz sir I give upvote
4
a. P3,440,900 b. P3,250,000 C. P3,146,900 D. P3,059,100
A-1
Please help me with show all calculation
Ratio Analyses for Victor and Maria Review the financial statements of Victor and Maria Hernandez and the financial ratios provided below. Balance Sheet for a Couple with Two Children-Victor and Maria Hernandez, January 1, 2018 Dollars Percent ASSETS Monetary Assets Cash on hand 1,200 0.3 Savings account 4,200 1.1 Victor's checking account 2,700 0.7 Maria's checking account 3,300 0.8 Tax refund due 700 0.2 Rent receivable 650 0.2 Total Monetary Assets $ 12,750 3.3% Tangible Assets Home 192,000 49.0 Personal property 9,000 2.3 Automobiles 9,500 2.4 Total Tangible Assets $ 210,500 53.7% Investment Assets Fidelity mutual funds 4,000 1.0 Scudder mutual fund 4,500 1.1 Ford Motor Company stock 2,500 0.6 New York 2038 bonds 4,100 1.0 Life insurance cash value 5,400 1.4 IRA accounts 34,400 8.8 Real estate investment 114,000 29.1…
Kai.3