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Explanation please 32. XYZ Printing reported retained earnings of $10,000 at year-end 2018. The...

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Accounting

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32. XYZ Printing reported retained earnings of $10,000 at year-end 2018. The accompanying income statement reported $5,000 in revenue for 2018 and $10,000 in expenses. The beginning 2018 retained earnings must have been: a) $25,000 b) $20,000 c) $15,000 d) $10,000 e) $5,000 45. Determine the cash payments made for insurance premiums from the following information. Prepaid Insurance: Balance, beginning of the period Balance, end of the period $220 $195 Assume that $475 of insurance expired during the period and that all insurance premiums are paid in cash a) $475 b) $195 c) $695 d) $450 Dolby Corporation had the following transactions during the month of January i. Owners started the company by investing $100,000 cash in exchange for common shares ii. Purchased $50,000 of equipment by making a $20,000 cash down payment and signed a 90-day note payable for the balance iii. Purchased land for $5,000, signing a note payable for full amount iv. Earned $15,000 of revenue (of which $10,000 was received in cash with the balance on accounts receivable) What are the total assets for the corporation at the end of January? a) $140,000 b) $145,000 c) $150,000 d) $170,000

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