Question: Based on the following data and assuming that the common stock account balance is $ 66000 , what is the balance in retained earnings? Accounts


Based on the following data and assuming that the common stock account balance is $66000, what is the balance in retained earnings?

Accounts payable
$87000
Accounts receivable
56000
Cash
76000
Inventory
132000
Buildings
162000
Bonds payable
521000
Supplies
10300
Notes payable
57000
Equipment
353000

Step by Step Solution

3.35 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Correct Answer 4th Option 58300 Explanation Balance Sheet Assets L... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!