Rise Bakery, Inc. reported a prior-period adjustment in 2025. An accounting error caused net income of prior years to be overstated by $2,000. Retained Earnings at December 31, 2024, as previously reported, was $44,000. Net income for 2025 was $70,000, and dividends declared were $27,000. Prepare the company's statement of retained earnings for the year ended December 31, 2025. (Enter any current period increases in retained earnings prior

In 2021, Winslow International, Inc.’s controller discovered that ending inventories for 2019 and 2020 were overstated by $220,000 and $520,000, respectively.Determine the effect of the errors on retained earnings at January 1, 2021. (Ignore income taxes.)

a) Prepare all journal entries to record the activity for the items above for 2020 b) Prepare any journal entries required at December 31, 2020 to record bad debt expense for the year

12/31/2020: During 2020, $10,000 in accounts receivable were written off. At the end of the second year of operations, Yolandi Company had $1,000,000 in sales and accounts receivable of $400,000.  XYZ’s management has estimated that $17,000 in accounts receivable would be uncollectible.  For the end of 2020, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts: Bad debt expense:  Allowance for doubtful accounts:  For the end of 2020, what is the company's net realizable value?

Sagar

On January 31, 2020, Allison company wrote off and uncollectible accounts of $8500. The company uses the allowance method for bad debts. The write off would cause total current assets to be? A decreased by $8,500, Increased by $8500 increase by $17,000 or will it remain the same amount?

Pharoah Ltd. prepared an aging of its accounts receivable at December 31, 2023 and determined that the net realizable value of the receivables was $324800. Additional information for calendar 2023 follows: Allowance for expected credit losses, beginning $38080 Uncollectible account written off during year 25760 Accounts receivable, ending 358400 Uncollectible accounts recovered during year 5600 For the year ended December 31, 2023, Pharoah's loss on impairment should be $20000. $15680. ○ $17920. $25760.

The following items were taken from the adjusted trial balance of the Dylex Corporation for the year ended December 31, 2020. Assume an average 25% income tax on all ens. The accounting period ends December 31, and all amounts given are pre-tax. Dylex Corporation had 11,000 common shares outstanding in 2020 and follows IFRS Cost of goods sold Depreciation expense, building Gain on exchange Gain on sale of assets from discontinued operations Insurance expense Interest expense Interest income Loss on sale of trading investment 140,000 23,000 a) Prepare a multi-step income statement in good form. Please make sure your final anewarts) are accurate to 2 decimal places Dylex Corporation For the Year Ended December 31, 200 125,000 100,000 54,000 52,000 X 58,000 135,000 Operating loss of discontinued operation to disposal date 100,000 Salaries expense 160.000 Sales ** 900,000 REQUIRED DISCLOSURES b) Calculate basic eamings per share (EPS) from continuing operations. Please make sure your final…