Business, 02.10.2020 16:01, adamkladke
As of December 31, Year 1. Moss Company had total cash of $158,000, notes payable of $85,800, and common stock of $52,600.
During Year 2, Moss earned $38,000 of cash revenue, paid $21,000 for cash expenses, and paid a $3,200 cash dividend to the
stockholders.
Required
a. Determine the amount of retained earnings as of December 31, Year 1.
Retained earnings
$ 20,400 <— i know this
b.&c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the
appropriate elements of the accounting equation.
(Enter any decreases to account balances with a minus sign.)
MOSS COMPANY
Effect of Year 2 Transactions on the Accounting Equation
Assets Liabilities Stockholders' Equity
Event
Notes
Cash
Common Retained
Payable
Stock
Earnings
Beginning balance
1. Earned revenue
2. Paid expenses
3. Paid dividend
Ending balance
How do i input it , in the chart
Answers: 3
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As of December 31, Year 1. Moss Company had total cash of $158,000, notes payable of $85,800, and co...
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