On December 1, 2022, Bronner Freight had a beginning balance in retained earnings of $55,300. Bronner...

 

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On December 1, 2022, Bronner Freight had a beginning balance in retained earnings of $55,300. Bronner Freight uses cash basis accounting. The following cash transactions occurred during the month of December: A. Bronner Freight received $12,000 in fees from customers for services performed during December B. Bronner Freight paid $6,500 in wages during the month of December C. Bronner Freight paid its owner, Saul, a $2,000 dividend D. Bronner Freight purchased land for $50,000 cash Compute Bronner Freight's ending balance in Retained Earnings on December 31, 2022 after all transactions have been recorded. On December 1, 2022, Bronner Freight had a beginning balance in retained earnings of $55,300. Bronner Freight uses cash basis accounting. The following cash transactions occurred during the month of December: A. Bronner Freight received $12,000 in fees from customers for services performed during December B. Bronner Freight paid $6,500 in wages during the month of December C. Bronner Freight paid its owner, Saul, a $2,000 dividend D. Bronner Freight purchased land for $50,000 cash Compute Bronner Freight's ending balance in Retained Earnings on December 31, 2022 after all transactions have been recorded.

Answer rating: 100% (QA)

1 Beginning Retained Earnings 55300 2 Cash Transactions in December A Fees received from customers 1... View the full answer