11) When using the Trial Balance Worksheet to prepare the Statement of Retained Earnings, what information is used from the Trial Balance Worksheet? A) net income or net loss B) revenues and...

11) When using the Trial Balance Worksheet to prepare the Statement of Retained Earnings, what information is used from the Trial Balance Worksheet?

A) net income or net loss

B) revenues and expenses

C) Beginning Balance Retained Earnings and Dividends

D) Cash account

12) The Balance Sheet reports the Retained Earnings at the end of a fiscal year. Where does the amount of Retained Earnings as reported on the Balance Sheet come from?

A) Trial Balance Worksheet

B) Adjusted Trial Balance

C) Unadjusted Trial Balance

D) Statement of Retained Earnings

13) The Statement of Retained Earnings reports a company's net income or net loss for a period of time. Where does the dollar amount of net income or net loss come from?

A) Balance Sheet

B) Unadjusted Trial Balance

C) Trial Balance Worksheet

D) Income Statement

14) The Statement of Retained Earnings reports a company's declared dividends over a period of time. Where does the amount of declared dividends come from?

A) Balance Sheet

B) Income Statement

C) Adjusted Trial Balance

D) Unadjusted Trial Balance

15) Dolhune Company has a balance of $20,000 in Retained Earnings as of January 1, 2015. For the year ended December 31, 2015, Dolhune had a net loss of $16,400. $3,000 was declared and paid in dividends for the year. Prepare the Statement of Retained Earnings for the year ended December 31, 2015.

16) A company has the following information available for the year ending December 31, 2014:

REQUIRED:

Calculate the company's (A) net income or loss for the year ending December 31, 2014 and (B) the balance in Retained Earnings on 1/1/2014.