Concept – Data Flows from the Statement of Retained Earnings…
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which of the following data comes from the statement of retained earnings and moves towards the balance sheet?
Which of the following data comes from the statement of retained earnings and moves towards the balance sheet?
Which of the following goes from the statement of retained earnings to the balance sheet?
Given a list of transactions including the purchase of supplies, services for cash, services on account, and monthly rent… calculate total revenue, net income, and the net cash inflow or outflow.
Your numbers will vary.
Given amounts debited in accounts along with the amount credited… determine if the trial balance would be out of balance.
Your numbers will vary.
Given beginning and ending stockholders’ equity, beginning assets, and increase in liabilities… determine the balance of the ending asset.
Your numbers will vary.
Given credit sales, estimated uncollectible accounts, allowance account beginning balance, and bad debts… calculate the ending balance in the allowance account.
Your numbers will vary.
Given the work days owed, a number of days in a work week, and the weekly salary… determine what would be included in an adjusting entry for accrued wages.
Your numbers will vary.
Given the beginning and ending accounts receivable balance, credit sales, and bad debts… determine the amount of cash that was collected.
Your numbers will vary.
Given the beginning salaries payable balance, salaries accrued, and ending salaries payable balance… determine the amount of cash paid towards salaries.
Given revenues, cost of goods sold, expenses, dividends, and retained earnings balance… prepare closing entries, determine net income, and calculate the ending retained earnings balance.
Your numbers will vary.