At the beginning of FY2021, our company had a balance of $12k in Retained Earnings. Over the

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Question:

At the beginning of FY2021, our company had a balance of $12k in Retained Earnings. Over the FY2021 reporting period, our company had the following transactions and only these: -Issued an additional $10k in Common Stock -Provided services to customers on account, $20k -Purchased Equipment for Cash, $8k -Paid employee salaries in full for the period, $10k -Pay dividends to stockholders, $6k What would our company's reported Retained Earnings be as of the end of FY2021?

A. $10k

B. $4k

C. None of the other choices

D. $26k

E. $16k

Suppose that this customer pays Cash to us in November of 2021, for a soccer camp that will take place in February 2022. Our firm does annual reporting aligned with the calendar year. Assuming things go as expected, in what Fiscal Year would we report Revenue from this sale?

A. 2021

B. 2020

C. None of the other options.

D. 2022