Question: can you please show the work, in not completely understanding how to do this, thank you! On January 1. Year 3, the following information was








On January 1. Year 3, the following information was drawn from the accounting records of Carter Company cash of $450; land of $2,550; notes payable of $750; and common stock of $1,350. Required a. Determine the amount of retained earnings as of January 1, Year 3. b. After looking at the amount of retained earnings, the chief executive officer (CEO) wants to pay a $550 cash dividend to the stockholders. Can the company pay this dividend? c. As of January 1, Year 3, what percentage of the assets were acquired from creditors? d. As of January 1, Year 3. what percentage of the assets were acquired from investors? e. As of January 1 Year 3, what percentage of the assets were acquired from retained earnings? f. Create an accounting equation using percentages instead of dollar amounts on the right side of the equation g. During Year 3, Carter Company earned cash revenue of $700, paid cash expenses of $400, and paid a cash dividend of $60. Record these events using the accounting equation g.1. Prepare an income statement dated December 31, Year 3. g-2. Prepare a statement of changes in stockholders' equity dated December 31, Year 3. 9-3. Prepare a balance sheet dated December 31, Year 3. 9-4. Prepare a statement of cash flows dated December 31, Year 3. J. What is the balance in the Revenue account on January 1. Year 4? Complate this question by entering your answers in the tabs below. Reg A and B Reg C to E ReqF Req G Req G1 Reg 2 Reg G3 Reg G4 Reg Determine the amount of retained earnings as of January 1, Year 3 After looking at the amount of retained earnings, the chief executive officer (CEO) wants to pay a $550 cash dividend to the stockholders. Can the company pay this dividend? Amount of retained earnings Can the company pay this dividend? b As of January 1, Year 3, what percentage of the assets were acquired from creditors, Investors and retained earnings? c. d. Percentage of the assets were acquired from creditors Percentage of the assets were acquired from investors Percentage of the assets were acquired from retained earnings % % % Req A and B Reg C to E ReqF ReqG Req G1 Req G2 Req G3 Reg G4 Reg 3 Create an accounting equation using percentages instead of dollar amounts on the right side of the equation. CARTER COMPANY Accounting Equation as of January 1, Year 3 Assets Liabilities Stockholders' Equity Cash Land Common Retained - Notes Payable + Stock Earnings % + % Reg A and B Reg C to RegF ReqG Req G1 Req G2 Reg G3 Reg G4 Requ During Year 3, Carter Company earned cash revenue of $700, paid cash expenses of $400, and paid a cash dividend of $60. Record these events using the accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input.) CARTER COMPANY Accounting Equation as of December 31, Year 3 Assets Liabilities + Stockholders' Equity Account Tities for Notes Common Cash Retained Land Retained Payable Stock Earnings Earnings Complete this question by entering your answers in the tabs below. Reg A and B ReqC to E Reg F Req G Reg G1 Req G2 Reg 63 Req G4 Req) Prepare an income statement dated December 31, Year 3. CARTER COMPANY Income Statement For the Year Ended December 31, Year 3 Reg A and B Req C to E Reg Reg G Req G1 Req G2 Req G3 Reg G4 Reg Prepare a statement of changes in stockholders' equity dated December 31, Year 3. CARTER COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 3 Beginning common stock Ending common stock Beginning retained eamings Ending retained earnings Total stockholders' equily Reg A and B Req C to E ReqF Req G Req G1 Req G2 Req G3 Req G4 Req) Prepare a balance sheet dated December 31, Year 3. CARTER COMPANY Balance Sheet As of December 31, Year 3 Assets Total assets Llabilities es Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Reg A and B Reg C to E ReqF Req G Req G1 Req G2 Req G3 Req G4 Req Prepare a statement of cash flows dated December 31, Year 3. (Cash outflows should be indicated with a minus sign.) CARTER COMPANY Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities: Nel cash flow from operating activities: Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Ending cash balance Required a. Determine the amount of retained earnings as of January 1. Year 3. b. After looking at the amount of retained earnings, the chief executive officer (CEO) wants to pay a $550 cash dividend to the stockholders. Can the company pay this dividend? c. As of January 1 Year 3. what percentage of the assets were acquired from creditors? d. As of January 1, Year 3, what percentage of the assets were acquired from investors? e. As of January 1, Year 3, what percentage of the assets were acquired from retained earnings? f. Create an accounting equation using percentages instead of dollar amounts on the right side of the equation g. During Year 3, Carter Company earned cash revenue of $700. paid cash expenses of $400, and paid a cash dividend of $60. Record these events using the accounting equation. 9-1. Prepare an income statement dated December 31, Year 3. 9-2. Prepare a statement of changes in stockholders' equity dated December 31, Year 3. 9-3. Prepare a balance sheet dated December 31, Year 3. 9-4. Prepare a statement of cash flows dated December 31, Year 3. 1. What is the balance in the Revenue account on January 1, Year 4? Complete this question by entering your answers in the tabs below. Reg A and B Recto ReqF Reg G Req G1 Reg G2 Reg G3 Reg G4 Reg) What is the balance in the Revenue account on January 1, Year 4? Balance in revenue account
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