From the information provided, determine: 1. The amount of retained earnings at December 31. 2. The amount
Question:
1. The amount of retained earnings at December 31.
2. The amount of revenues for the period.
Additional data:
Expenses for the period were $55,000.
Dividends paid were $9,000.
Capital stock increased by $20,000 during theperiod.
Transcribed Image Text:
December 31 Totals January 1 Current assets All other assets. Liabilities Capital stock. Retained earnings S 25,000 240,000 85,000 125,000 60,000
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1 Total assets at December 31 220000 25000 245000 Les...View the full answer
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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