AW Score: 32.277s, 19.38 0121 p E1-24 (similar to The records of Morin Company s

Question

AW Score: 32.277s, 19.38 0121 p E1-24 (similar to The records of Morin Company show the following at December 31,2018 B(Click the ioon to view the data.) Read the requirements Data Table Assets&Liabilitles Common Stock $ 11,000 16,000 Requirement 1. Compute the missing amount for Morin Comparry. You will need to determine Retained E Begin by determining total stockholders' equity. Rework the accounting equation and then solve for stockh 56,000 Dividends 37,000 Revenues Ending: Retained Eamings, January 1, Beginning 56,000 Ending Idenäify the formula and then solve for the retained earnings balance at the end of the period $ 37,000 S 45,000 19,000 Assets 66,000 2018 45,000 $ 66,000 21,000 Ending equity $ 21,000 Rearrange the formulia to compute the change in retained earnings and then solve for the missing expense amount for Monin Company. (Abbreviations used Beg netained earnings Beginning retained eamings End Common StockEnding retained earnings Print Done 11,000 10,000 reained earings Ending retained earnings) Expenses Choose from any list or enter any number in the input fields and then clck Check Answer Clear All Check Answer 5 7 8 9

Explanation / Answer

Beg RET. Earning + Revenues   - Dividend - Ending RE   = Expenses 8000   + 168000   - 16000 - 10000 = 150000

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