Description of this paper

The amount of retained earnings at December 31.

Description

solution


Question

Computing Elements of Owners' Equity;From the information provided, determine;1. The amount of retained earnings at December 31.;2. The amount of revenues for the period.;Totals January 1 December 31;Current assets................................... $ 10,000 $ 15,000;All other assets.................................. 190,000 180,000;Liabilities....................................... 65,000 45,000;Capital stock..................................... 60,000?;Retained earnings................................ 75,000?;Additional data;Expenses for the period were $75,000.;Dividends paid were $11,500.;Capital stock increased by $10,000 during the period.

 

Paper#27218 | Written in 18-Jul-2015

Price : $41
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