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Before closing entries were recorded at the end of the accounting period (December 31, 2015), the following data were taken from the accounts of Buynow
Before closing entries were recorded at the end of the accounting period (December 31, 2015), the following data were taken from the accounts of Buynow Corporation: Capital Stock, par $10 (20,000 shares issued) Contributed capital in excess of par Retained earnings, balance December 31, 2014 Revenues earned during 2015 Expenses incurred during 2015 Cash dividends declared and paid (during 2015) Treasury stock (1,000 shares at cost) $200.000 15,000 80,000 400.000 344.000 30,000 17,000 The total amount of owners' equity that should be reported on the balance sheet dated December 31, 2015, after all the closing entries, is O $ 338,000 $128,000. O $300,000 $304,000
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