Sammy's Pizza opened on January 1, 2018. Sammy's reported the following for cash revenues and cash expenses for the years 2018 to 2020 2018 2019 2020 Cash Revenues $19,000 $29,000 $39,000 Cash Expenses $10,500 $13,500 $21,500
Required:
a. What would Sammy's Pizza report for net income and retained earnings for the years 2018, 2019, and 2020?
b. Assume that Sammy's Pizza paid a $4,750 dividend to stockholders in 2019. What would Sammy's Pizza report for net income and retained earnings for 2019 and 2020?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Sammy's Pizza opened on January 1, 2018. Sammy's reported the following for cash revenues and cash expenses for the years 2018 to 2020 2018 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Once you find a job that sounds interesting, you should: Question 2 options: write a cover letter. immediately send a resume. fill out an application. research the company and position
Answers (2)
Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following balances: January 1 December 31 Accounts receivable $142,650,000 $172,350,000 Inventory 54,374,200 62,625,800 Required:
Answers (1)
In 2014, Firm X made $500 in sales with $1,200 in fixed assets. Suppose the firm had been operating at 75% of fixed asset capacity.
Answers (1)
What improves managerial level business processes?
Answers (1)
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy Question 3 options: could get stuck in long-run equilibrium. could get stuck in a recessionary gap. could get stuck in an inflationary gap.
Answers (1)
New Questions in Business
Under the mudarabah banking system, when an Islamic bank lends money to a business Multiple Choice it charges that business interest on the loan. the business needs to pay back the loan with an additional markup.
Answers (1)
A company's bonds have a 10-year maturity, a 6% coupon paid semi-annually, and a par value of $1,000. The yield to maturity is quoted as 8% in the financial press. What is the bond's price?
Answers (1)
Buckman Company uses the weighted average method for process costing. The cost per equivalent unit for direct materials is $5.00. The cost per equivalent unit for conversion costs is $3.00. The company completed and transferred out is 40,000 units.
Answers (1)
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money
Answers (2)
Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.
Answers (1)