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A company reports revenues of \$60,000 and expenses of \$45,000. What is the net income?
A company has a beginning balance in inventory of \$20,000. It purchases \$15,000 worth of goods and sells \$18,000 worth of goods. What is the ending inventory balance?
What does retained earnings represent in accounting?
A company has a beginning balance in accounts receivable of \$6,000, makes \$9,000 in credit sales, and has an ending balance of \$7,000. How much cash was collected from customers?
How do dividends affect retained earnings?
A company has a beginning balance in accounts receivable of \$3,000. During the month, it made \$7,000 in credit sales and collected \$5,000 in cash from customers. What is the ending balance in accounts receivable?
A company has a beginning balance in retained earnings of \$30,000. It reports net income of \$10,000 and pays dividends of \$3,000. What is the ending balance in retained earnings?
A company reports revenues of \$50,000 and expenses of \$30,000. What is the net income?
What does the BASE formula stand for in accounting?
A company has a beginning balance in accounts payable of \$4,000. It makes purchases of \$6,000 and pays \$3,000 to suppliers. What is the ending balance in accounts payable?