The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $27,000;
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Question:
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $27,000; Liabilities = ?; Common Stock = $5,700; Revenue = $12,400; Dividends = $1,100; Beginning Retained Earnings = $4,100; Ending Retained Earnings = $7,700. The amount of liabilities reported on the end-of-period balance sheet was:
Multiple Choice
- $21,300.
- $19,300.
- $13.600
- $17,200
Related Book For
Principles of Accounting
ISBN: 978-0618736614
10th edition
Authors: Belverd Needles, Marian Powers, Susan Crosson
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