As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled$10,000, and the business incurred a net loss of $320,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain

Ruth Schuler.
Previous balance: $74,561.49.
Interest:$1017.98.
Deposits: $918.37 and$944.56.
Withdrawals: $959.40 and$14,391.47.
What is her new balance?

a. During February, $186,500 was paid to creditors on account, and purchases on account were$ 201,400. Assuming that the February 28 balance of Accounts Payable was $59,900, determine the account balance on February 1.

b. On October 1, the accounts receivable account balance was$115,800. During October, $449,600 was collected from customers on account. Assuming that the October 31 balance was$130,770, determine the fees billed to customers on account during October.

c. On April 1, the cash account balance was $46,220. During April, cash receipts totaled$248,600 and the April 30 balance was $56,770. Determine the cash payments made during April.

As of January 1, Terrace Waters, Capital, had a credit balance of $314,000. During the year, withdrawals totaled$10,000, and the business incurred a net loss of $320,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.

Zenith Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense.

Journalize the following selected transactions for March 2018 in a two-column journal. Journal entry explanations may be omitted.

Mar.

1. Paid rent for the month, $4,000.
2. Paid advertising expense,$1,350.
3. Paid cash for supplies, $1,800.
4. Purchased office equipment on account,$11,500.
5. Received cash from customers on account, $8,600.
6. Paid creditor on account,$3,180.
7. Paid cash for miscellaneous expenses, $700.
8. Paid telephone bill for the month,$550.
9. Fees earned and billed to customers for the month, $37,200.
10. Paid electricity bill for the month,$830.
11. Paid dividends, $2,000.

On August 1, the supplies account balance was $1,025. During August, supplies of$3,110 were purchased, and $1,324 of supplies were on hand as of August 31. Determine supplies expense for August.

As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled$10,000, and the business incurred a net loss of $320,000.

A. Compute the balance of Retained Earnings as of the end of the year.

Suppose that a country has a trade surplus of $50 billion, a balance on the capital account of$10 billion, and a balance on the current account of −$200 billion. The balance on the capital and financial account will be:

a.$10 billion.

b. $50 billion.

c.$200 billion.

d. −$200 billion.

As of December 31, 2018, Cady Construction has one construction job for which the construction in progress (CIP) account has a balance of $\$ 20,000$ and the billings on construction contract account has a balance of $\$ 14,000$. Cady has another construction job for which the construction in progress account has a balance of $\$ 3,000$ and the billings on construction contract account has a balance of $\$ 5,000$. Indicate the amount of contract asset and/or contract liability that Cady would show in its December 31, 2018, balance sheet.

Use the information in the adjusted trial balance reported in the previous exercise to prepare Wilson Trucking Company’s classified balance sheet as of December 31.

John has a balance of $3000 on his Discover card that charges 1% interest per month on any unpaid balance. John can afford to pay$100 toward the balance each month. His balance each month after making a $100 payment is given by the recursively defined sequence$B_{0}=$3000, \quad B_{n}=1.01 B_{n-1}-100$. Using a graphing utility, determine when John will pay off the balance. What is the total of all the payments?

Use the given process data to construct a control chart for p. Use the three out-of-control criteria listed in the mentioned section and determine whether the process is within statistical control. If it is not, identify which of the three out-of-control criteria apply.

In each of 15 recent and consecutive years, 1000 high school completers were randomly selected and the number who enrolled in college was determined, with the results listed below. Does the p-chart indicate that such college enrollments are high enough?

$$\begin{array}{lllllllllllllll}601 & 625 & 619 & 626 & 619 & 619 & 650 & 670 & 656 & 629 & 633 & 618 & 652 & 639 & 667\end{array}$$

As of January 1, Brenda Cikan, Capital, had a credit balance of $125,000. During the year, withdrawals totaled$7,000, and the business incurred a net loss of $130,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.

Justin earned $25.67 one week and$37.85 the next week. He also purchased a DVD for $19.99 and gas for his car for$22.07. He started with a zero balance in his checking account. Justin recorded all of these transactions in his checkbook and ended up with a balance of $ 105.58. Was his balance correct? If it was, write an equation to support the answer. If not, find the correct balance.