Author Question: ____________________ are items that the bank adds to a depositor's account. Fill in the blank(s) ... (Read 71 times)

karlynnae

  • Hero Member
  • *****
  • Posts: 599
___________________ _ are items that the bank adds to a depositor's account.
 Fill in the blank(s) with correct word

Question 2

Assume 2011 is the company's first year of business. There were no dividends declared in 2011 and 100 of dividends declared in 2012.
 
  For the year ended For the year ended
   December 31, 2011 December 31, 2012
  Revenues  300  2,500
  Expenses   (1,400)
  Net Income  1.  __
 
   December 31, 2011 December 31, 2012
  Assets  1,000  2,500
  Liabilities  ___ 2.  
  Contributed capital  300  300
  Retained earnings  ______________ 3.  _____________
 
  Determine the missing amounts, 1. Net income, 2. Liabilities of 200, and 3. Retained earnings of 1,400, in the condensed income statement and balance sheet for the year ended December 31, 2012.
  A) 1. Net income of 1,100; 2. Liabilities of 200; 3. Retained earnings of 1,400
  B) 1. Net income of 3,900; 2. Liabilities of 1,000; 3. Retained earnings of 1,300
  C) 1. Net income of 1,100; 2. Liabilities of 1,000; 3. Retained earnings of 1,200
  D) 1. Net income of 1,100; 2. Liabilities of 200; 3. Retained earnings of 1,200



Perkypinki

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

Credit memos

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

For a complete list of videos, visit our video library