chapter 1 exercises

 

Ok, so it looks like you should have gone with Kahlina's bin theory on #2: the expense bin increases?--coincidentally, I wonder if this is evidence of the, you need to stop thinking like a consumer thing...

And then at the end, you needed to put the +/- on the same side, cash increases, whereas accounts receivable decreases...

I think you just forgot to subtract dividends on this one--yea, you double checked, you

And then the year at the top. If you read the title, it says, for the year ended, and both of your years are the same so no change has taken place

Also note the year at the very righthand side, and how the common stock balance? and retained earnings balance? goes on the top. 

Ok for this one, you need to calculate retained earnings, but to do that you need the beginning retained earnings (775,000), so

775000+net income (1150000-150000, 45000, 650000=890000)-50000=1615000, which is wrong...but it also looks like your calculator led you astray AGAIN

net income=315000, so

775000+315000=1090000-50000=1040000, which is right

1040000+75,000=1115000

1115000+35000=1150000

so you're good...