John formed a corporation that provides consulting services for entities to implement sustainability mandates and reporting....
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John formed a corporation that provides consulting services for entities to implement sustainability mandates and reporting. Required Total assets Total liabilities Capital stock Retained earnings Revenues in 20x2 Expenses in 20x2 Dividends paid during 20x2 31 December 20x1 $250,000 $115,000 ? $95,000 From these data, determine the amount of 1. Capital stock as at 31 December 20x1 2. Retained earnings as at 31 December 20x2 3. Revenues for year 20x2 31 December 20x2 $300,000 $125,000 $60,000 ? ? $135,500 $6,500 John formed a corporation that provides consulting services for entities to implement sustainability mandates and reporting. Required Total assets Total liabilities Capital stock Retained earnings Revenues in 20x2 Expenses in 20x2 Dividends paid during 20x2 31 December 20x1 $250,000 $115,000 ? $95,000 From these data, determine the amount of 1. Capital stock as at 31 December 20x1 2. Retained earnings as at 31 December 20x2 3. Revenues for year 20x2 31 December 20x2 $300,000 $125,000 $60,000 ? ? $135,500 $6,500
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To determine the missing amounts we can use the basic accounting equation Assets Liabilities Equity ... View the full answer
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