Question: QUESTION 21 6 points Save Answer The Bender Corporation had revenues of $210,000 and expenses of $190,000 in 2012. Dividends declared and paid in 2012

QUESTION 21 6 points Save Answer The Bender Corporation had revenues of $210,000 and expenses of $190,000 in 2012. Dividends declared and paid in 2012 were $3,000. The entry to close the Income Summary account is: OA Income Summary 20,000 Retained Earnings 20,000 B.Retained Earnings 20,000 Income Summary 20,000 O C Dividend ,000 Income Summary 3,000 Income Summary 3,000 Dividends 3,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Corresponds to CLO 1(a) West Coast Corporation had 800,000 shares of common stock outstanding on January 1, issued 200,000 shares on October 1, and had income applicable to common stock of $2,865,000...

Need help try to answer all the question shown below please Current Assets 10000 11000 12000 12100 13100 13200 18000 18100 18200 15100 17100 Cash Accounts Receivable 21200 23100 23200 23300 23400...

Financial Statement Analysis Part 1 As described in the project overview, Appendix A of your textbook describes several ratios, as well as vertical analysis and horizontal analysis of financial...

Common Size Balance Sheet Prepare a spreadsheet with common size balance sheets for the years ended November 30, 2014 and 2015. For 2014, each line item should be shown as a percentage of total...

I need help with the following questions please answer all of them(please help asap) Current Assets 10000 11000 12000 12100 13100 13200 18000 18100 18200 15100 17100 Cash Accounts Receivable 21200...

Question 1 (75 marks: 100 minutes) : PART A (20 marks: 27 minutes) You are an audit senior who has been assisting with the audit of Harlequin Ltd (Harlequin) for the year ended 31 December 2019. You...

Chapter 3 Homework i Saved Help Save & Exit Submit Check my work 8 Haynes, Inc., obtained 100 percent of Turner Company's common stock on January 1, 2020, by issuing 9,200 shares of $10 par value...

1 20 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 30 31 32 33 34 35 36 37 Moving to another question will save this response. Question 9 At the end of a reporting period, how are revenues and expenses...

Needing ANSWERS ASAP! Starting at pg 34 - Labeled Graded Project 06155200: Graded Project Instructions & Worksheets 1 Lesson 1: Business, Accounting, and You PROJECT GOAL The goal of this graded...

Mendez Company provides the following information about its product: Targeted operating income $50,000 Selling price per unit 6.00 Variable cost per unit 1.50 Total fixed costs 125,000 What is the...

A system for separating a binary mixture by extractive distillation, followed by ordinary distillation for recovery and recycle of the solvent, is shown in Figure. Are the design variables shown...

(a) Prove and explain graphically the difference between the relations x(n)(n n0) = x (n0)(n n0) and x(n) * (n n0) = x (n n0) (b) Show that a discrete-time system, which is describe by a...

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

2. What did you do in response to the challenge? How did your responses improve your ability to cope or make you stronger, more flexible, or capable?

2. What advice will you give her? What do you think are some of the sources of her stress? How will you work with her to develop strategies for reducing her stress?

1. How do you think and feel about the challenge now, and how did you at the time you faced it?