End of year 1End of year 2
Accounts Payable$ 3,850$ 4,150
Accounts Receivable$ 8,500 $ 9,780
Common Stock$10,000$10,000
Retained Earnings$ ?$ ?
Cash $15,000$25,500
Supplies$ 750 600
*What is the amount of net income for year 2?
*What is the amount of supplies used during year 2 assuming that supplies purchased during that year had a cost of $1,950?
*If Sales Revenue for the year was $20,000, what was the amount of cash collected from customers during year 2?
*Assume that Abest declared and paid $1,000 dividends during year 2. What is the amount of net income for that year?
I know its a lot of work, but if you can give me any help at all it would be greatly appreciated. Also please explain how to get answers. thanks
2006-09-19
11:14:02
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4 answers
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asked by
Anonymous
in
United States