FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Acquired $ 3 0 , 0 0 0 cash from the issue of common stock. Borrowed $ 4 0 , 0 0 0 cash from

Acquired $30,000 cash from the issue of common stock.
Borrowed $40,000 cash from National Bank.
Earned cash revenues of $48,000 for performing services. what is the retained earnings?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

5th Edition

ISBN: 1264467206, 978-1264467204

More Books

Students also viewed these Accounting questions

Question

★★★★★
Billy fell off a bar stool and hurt his back. As a result, he was unable to work for three months. He sued the bar owner and collected $100,000 for the physical injury and $50,000 for the loss of...

Answered: 1 week ago

Question

★★★★★
Show that, when Re p > 1000 and C D is governed by Eq. (3.2-5), the range of feasible velocities for fluidizing spheres of diameter d and density o is Given that f 0.41 under these conditions...

Answered: 1 week ago

Question

★★★★★
List f our sourc es of c onflict. (p. 3 62)

Answered: 1 week ago

Question

★★★★★
The following data are based on information in the 2017 annual report of YUM! Brands, Inc. YUM! Brands is the parent company of KFC, Pizza Hut, and Taco Bell. As of December 31, 2017, the parent...

Answered: 1 week ago

Question

★★★★★
Mark the least complex type of testing from the set below Group of answer choices Assignment statements Variable initialization Parameter passing Loop termination Simple recovery logic Functions and...

Answered: 1 week ago

Question

★★★★★
Describe the difference between negligence, intentional torts, product liability and strict liability and how they apply to sports law. What is the level of risk associated with each, and how is that...

Answered: 1 week ago

Question

★★★★★
The production records of Prince Company for the month of June shows the following: Total Manufacturing Cost Variance P 3,840 U Rate Variance 8,710 F Total material cost variance 2,975 U Total Labor...

Answered: 1 week ago

Question

★★★★★
Based on the facts, what is the primary ethical issue in this case? Who are the stakeholders? What changes could have been made to impact the outcome of this fraud? Research recent developments in...

Answered: 1 week ago

Question

★★★★★
MDM4U EXAM REVIEW 1. Consider the arrangement of the name TISHAN a. How many arrangements are there in total? b. How many begin with N? c. How many begin with a vowel? 2. Consider forming 7 digit...

Answered: 1 week ago

Question

★★★★★
A cake maker has determined that the cost of producing wedding cakes is $61.50 per wedding cake plus $16620 per month in fixed costs. The cake maker sells each wedding cake for $200. Step 4 of 4:...

Answered: 1 week ago

Question

★★★★★
Write a dialogue of what you would say to your sellers when presenting to them your marketing recommendations. 1- Give your recommendations based on maximum market (buyer) reach and appropriate...

Answered: 1 week ago

Question

★★★★★
18. Where will they read or interact with the communication piece? (format and media)

Answered: 1 week ago

Question

★★★★★
9. How are they similar to you? (specifically)

Answered: 1 week ago

Question

★★★★★
13. What are their tastes? (refined, middle class, or subsistence)

Answered: 1 week ago

Previous QuestionNext Question