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Unformatted text preview: 4-1ABCDE4-2ABCDE4-3ABCDE4-44--5ABCDE4-6ABCDE$2,500 $1,250 $2,150 $1,075 $8,025 $1,250 $2,150 $1,075 $2,500 $8,025 Still on problem 4-1, the Net Fixed Assets on the Balance for 20x2 would be:(The net fixed assets are the total Fixed Assets minus the total Accumulated Depreciation)$7,500 $6,450 $7,850 $10,000 $86,000 They are shown on the income statement under "Other Revenue and Expense"The entry to record dividends includes a credit to Retained EarninsThey are recorded with a debit to Retained EarningsThey appear on the Statement of Owners EquityThe beginning Retained Earnings + earnings for the year, - dividends, equals ending Retained EarningsThey are closed at the end of the period to Retained EarningsThey are distributions of a company's earnings to the shareholders$540,300.00 $399,270.00 $39,927.00 $67,680.00 $68,060.00 $671,010.00 $463,200.00 $1,359,030.00 $456,400.00 $462,290.00 On January 1, 20x1 your company purchased a new piece of equipment for $10,000, You estimate that the equipment will last about 8 years and then be worth $1,400. the equipment will last about 8 years and then be worth $1,400....
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This note was uploaded on 09/12/2010 for the course ACCT 101 taught by Professor Drkirch during the Spring '10 term at Ohio University- Athens.
- Spring '10