Question
1.Henderson Inc. reports the following: assets of $500,000, liabilities of $350,000 and capital stock of $100,000. What is the balance in retained earnings? a.$450,000 b.$50,000
1.Henderson Inc. reports the following: assets of $500,000, liabilities of $350,000 and capital stock of $100,000. What is the balance in retained earnings?
a.$450,000
b.$50,000
c.$250,000
d.$750,000
Can you please explain why the answer is 250,000?
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Ethics in Accounting A Decision Making Approach
Authors: Gordon Klein
1st edition
1118928334, 978-1118928332
