1-4 problem set

GGE Enterprises Inc. Shaded cols have feedback. X On November 1 of the current year, Rob Eliot invested $30,000.00 of his cash to form a corporation, GGE Enterprises Inc, in exchange for shares of common stock No other common stock was issued during November or December After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $55,650.00 and total stockholders' equily of $38,000.00 Accounts Common Fees Accounts Payable Cash Receivable Land Stock Relained Earnings $5,000.00 Famed Dividends $5,750.00 Supplies Expense 56,400.00 Utilities Expense ? Wages Expense S4 650.00 ? S9.600.00 $16,500.00 ? 2 $26,750.00 --- --- then it