accounting help. one question

[gQstatus05]

I'm stuck. I got all 9 right but the last one I'm at a loss. I'm reading the book and looking at the examples. The book doesn't say any formula on finding the missing values. I finally figured out the balance sheet question but this one is bugging me. This is supposed to be easier I imagine too. Can anyone give me any tips or something. Thanks.

[Ichwohneinloche]

retained earnings for december 31, 2010 is $308,218 if im not mistaken. check that. One of my classmates has my book for the weekend so i cant look it up but that should be right unless im missing something.

[gQstatus05]

I figured it out like 5 minutes after I posted this. I'm going to keep doing it over and over again until I get it master this. I appreciate the response dude.

[Ichwohneinloche]

Not a problem. Was that the right answer?

[gQstatus05]

I have to look again. I got a 100 on the assignment. I pretty much have Income Statement, Retained Earnings Statement, Balance Statements mastered now. It will only get harder so I had to get my study on this weekend past.

*** Correction. Not mastered but as far as Chapter 1 goes I have it mastered. I imagine Balance Sheets get way more complex and difficult.

[Ichwohneinloche]

Haha yeah balance sheet gets harder. Current and non current assets get thrown in later on. Have you started on statement of cash flows yet? That one is a ***** sometimes.

[gQstatus05]

Statement of cash flows will be covered next week. I'm working on current liabilities and long term liabilities. It's all about remembering the formulas and knowing where everything goes.

One question. Are the number rounded up in accounting. All the examples in the book have even numbers such as 2,000 instead of 1999.50

Is that because they round up?