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1)parker company has a balance of $24,000 in retained earnings on january 1. during the year, parker reported revenues of $73,000 and expenses of $59,000.
1)parker company has a balance of $24,000 in retained earnings on january 1. during the year, parker reported revenues of $73,000 and expenses of $59,000. parker also paid a dividend of $10,000.required:what is the amount of retained earnings on december 31?
2)The Fundamental Accounting Equation
Financial information for three independent cases is given below.
Required:
Compute the missing numbers in each case.
Assets | Liabilities | Equity | |||||||
1. | $112,300 | $ | $51,100 | ||||||
2. | 274,000 | 162,300 | |||||||
3. | 15,000 | 43,200 |
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