How much accounting balances are requires at the end of first year of operations ? Loma Company

How much accounting balances are requires at the end of first year of operations ?

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Loma Company is a new company with a beginning retained earnings balance of zero. Accounts Payable $37,000 Revenues $102,000 Salaries Expense Dividends Utilities Expense Advertising Expense Short-term Investments Cash Land Common Stock $15.000 $11,000 $15,000 $8,000 $20,000 $79,000 $50,000 $59,000 Loma Company is a new company with a beginning retained earnings balance of zero. Accounts Payable $37,000 Revenues $102,000 Salaries Expense Dividends Utilities Expense Advertising Expense Short-term Investments Cash Land Common Stock $15.000 $11,000 $15,000 $8,000 $20,000 $79,000 $50,000 $59,000

Answer rating: 100% (QA)

Retained Earnings Revenues Expenses Dividends Retained Earnings 102000 15000 11000 ... View the full answer