C pdf 14 Problem Set: Chapters 1 and 2 Calculator Pillem 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 of December. After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00 Aber all transactions have been entered into the accounting equation for the month of December, the ending balances for selected tons on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $56.650.00 and total stockholders equity of $38,000.00 peg F puse jpe Retained Earnings Cash Land Accounts Common Payable Stock > Supplies $8.600.00 $16.500.00 Wages Dividende Earned Expense $5.750.00 $26,750.00 $4,400.00 Rent Expense 7 Supplies Utilities Expense Expense 54,650.00 $1.265.00 Miscellaneous Expense $450.00 ? HI FI OF lol Review the flowing questions. Pace an X in the box to indicate which will statement reporte desired information Enter the amount reported on the financial state Balance income Retained Earnings Sheet Statement Statement Amount 1. What is the amount reported for en and wockholders uity on December 31 x 356.650.00 2. What is the reared earnings amount reported on December 317 18,000.00 3. How much does Gorterprises inc. owe to its credhors? $12,000 4. How much cash is being held by Greer ino? $30,650.00 5. by what amount did retained earrings increase or decrease during the period 39.000.00 6 What is the amount of profit or loss during December 7. What were the total expenses for December 5 8. How much was paid for rent? Tacts DE DAM Points 27/32 n dio 3 Check My Work Next > nes 3 Assignment Score: 16.1% All work saved Email Instructor Save and Ex Submit Assignment for Grading