SOLUTIONS TO MODULE 2 4th Edition.docx - SOLUTIONS TO MODULE 2 4th Edition M2-23(10 minutes 2012 Beginning retained earnings $189,089 Add Net

SOLUTIONS TO MODULE 2 4th Edition.docx - SOLUTIONS TO...

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SOLUTIONS TO MODULE 2 4 th Edition M2-23. (10 minutes) 2012 2013 Beginning retained earnings ................................................ $189,089 $ 169,634 Add: Net income (loss) ................................................... (19,455) 48,192 Less: Dividends ................................................................ 0 (15 ,060 ) Ending retained earnings ..................................................... $169 ,634 $202 ,766 E2-27. (20 minutes) BARTH COMPANY Income Statement For Year Ended December 31, 2013 Sales revenue ............................................................................................ $500,000 Expenses Cost of goods sold ................................................................................. $180,000 Wages expense ..................................................................................... 40,000 Supplies expense .................................................................................. 6,000 Total expenses ....................................................................................... 226,000 Net income ................................................................................................. $274,000 BARTH COMPANY
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