Amber Companys assets total $150,000 and its liabilities total $85,000. What is the amount of Ambers retained

Question:

Amber Company’s assets total $150,000 and its liabilities total $85,000. What is the amount of Amber’s retained earnings if its capital stock amounts to $50,000?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

See More Books

Question Posted: Apr 17, 2014 09:33 AM

See More Questions

What is the amount of service department cost allocated to P1 and P2 using the step method with S1 goingfirst? Percentage Service Provided to: Department Cost S1 S2 P1 P2 Service 1 (S1] Service 2...
What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts shown in the cash flow diagram if the interest rate is 8% compounded quarterly? $2,500 8% Compounded...
What is the amount of the permitted deduction for single and married taxpayers who use Form 1040EZ?
Figure 2 shows a 250 kg beam BC at the time instant when a 100 N horizontal force is applied to its end B for 10 s. a. Determine the tension in rods AB and CD at an arbitrary instant during the time...
Find the total income produced by a continuous income stream in the first 2 years if the rate of flow is f(t)= 600e0.06t.
State three real-world variables X, Y, and Z for which you expect a marginal association between X and Y but conditional independence controlling for Z.
What are incomparable outcomes in the context of international performance evaluations? Give a suitable example. LO.1
Terry Kunkle and VanBuren High hosted a Christmas party in Berkeley County, South Carolina. Guests had drinks and hors doeuvres at a residence and adjourned to dinner in a barn across a public road....
How economic benefits influence the global adpoting of IFRS
The comparative balance sheet of Beets Industries, Inc. at December 31, 2013 and 2012, is as follows: An examination of the income statement and the accounting records revealed the following...
Foster, Inc. purchased a truck by paying $5,000 and borrowing the remaining $25,000 required to complete the transaction. Briefly state how this transaction affects the companys basic accounting...
White Companys assets total $780,000 and its owners equity consists of capital stock of $500,000 and retained earnings of $150,000. Does White Company have any outstanding liabilities and, if so,...
The Cozine Corporation operates a garbage hauling business. Up to this point, the company has been charged a flat fee for each of the garbage trucks that enters the county landfill. The flat fee is...
Beginning with Eq. (11.16), prove that Data from Eq. 11.16 Data from Eq. 11.21 where we have defined D8 = - 3 2 F = FiFi T = F + F + F Y = F8. 3 Show that this leads to Eq. (11.21) with the...
Consider the light bulb that is the object in Figure 33.28. If you move the bulb to the left, does the image shift left, shift right, or stay in the same place? Data from Figure 33.28 (a) The three...
Two models of light emitted from a light bulb are illustrated in Figure P33.5. (a) Describe the difference in the behavior of light in each model. (b) Describe an experiment that can determine which...
Parallel red and green laser rays are incident on a glass slab as shown in Figure P33.24. Sketch the rays as they pass through the slab and after they have entered the air to the right of the slab....
Consider the following five operations: constructing a luxury cruise ship, operating a casual dining restaurant, staging a professional sports match, manufacturing a patented drug, and rescuing...
How was the project terminated? Describe the activities of the project manager during the final stage of the project and the steps taken to close it out.
Question 6.10 Current and deferred tax worksheets and tax entries From the hip Ltd?s statement of profit or loss for the year ended 30 June 2007 and extracts from its statements of financial position...
Which of the following does not describe a use case? (a) An actor (user) that initiates an event. (b) An event that triggers a use case. (c) The use case that performs the actions triggered by the...
Some types of capital investments have associated cash flows that are very difficult to estimate, while other types of capital investments have associated cash flows that are very easy to estimate....
Some types of capital investments have associated cash flows that are very difficult to estimate, while other types of capital investments have associated cash flows that are very easy to estimate....
Assume that the required rate of return for investment projects at Rippenstock Corporation is 12 percent. One department has proposed investment in new equipment with a 10-year life span and a...
When preparing government-wide financial statements, the modified accrual based governments funds are adjusted. Please show the adjustments (in journal entry form with debits and credits) that would...
I need help finding the callable price and call value
On 31 October 2022, the owner took goods for his son as a birthday gift. The cost price of the goods was R15 000

Amber Companys assets total $150,000 and its liabilities total $85,000. What is the amount of Ambers retained

Question:

Step by Step Answer:

Total assets 150000 Liabilities 85000 ...View the full answer

Financial and Managerial Accounting the basis for business decisions

Students also viewed these Accounting questions