Love Company’s accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018. During the 2018 accounting cycle, Love earned $19,400 of revenue, incurred $9,800 of expense, and paid $500 of dividends. Revenues and expenses were recognized evenly throughout the accounting period. Required Determine the balance in the Retained Earnings account as of January 1, 2019. Determine the balance in the temporary accounts as of January 1, 2018. Determine the after-closing balance in the Retained Earnings account as of December 31, 2017. Determine the balance in the Retained Earnings account as of June 30, 2018.

Answer and Explanation:

Retained earning                             $42,100

Less: revenue during the year        $19,400

Add: Expenses During the year      $9,800

Add : Dividend                                  $500

Retained earning on 31 Dec 2017 $33,000

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

i'ts proportional. if the inflation rate is 12% for example, the cpi will be 12% less.

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