From the information provided, determine: 1. The amount of retained earnings at December 31. 2. The amount

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From the information provided, determine:
1. The amount of retained earnings at December 31.
2. The amount of revenues for the period.

December 31 Totals January 1 Current assets All other assets. Liabilities Capital stock. Retained earnings S 25,000 240,

Additional data:
Expenses for the period were $55,000.
Dividends paid were $9,000.
Capital stock increased by $20,000 during theperiod.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Question Posted: Dec 30, 2011 03:17 AM

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From the information provided, determine: 1. The amount of retained earnings at December 31. 2. The amount

Question:

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

Step by Step Answer:

1 Total assets at December 31 220000 25000 245000 Les...View the full answer

Accounting concepts and applications

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