Question
C2D2 Inc. has the following balances in its general ledger at December 31, 2015. Cash $10,000 Interest Payable $8,800 Dividends $10,000 Sales $140,000 Wages Expense
C2D2 Inc. has the following balances in its general ledger at December 31, 2015.
Cash $10,000
Interest Payable $8,800
Dividends $10,000
Sales $140,000
Wages Expense $75,000
Common Stock $2,000
Accounts Payable $8,000
Retained Earnings $38,000
Accumulated Depreciation $189,000
Depreciation $5,000
Fixed Assets $230,000
Inventory $23,800
Interest Expense $30,000
Taxes Payable $15,000
Utilities Expense $17,000
A. Based on the above information, C2D2 Inc.'s net income for 2015 is?
B. C2D2 Inc.'s balance sheet shows ? for its total assets on December 31, 2015.
C. After the year end closing entries the total of the balances in C2D2 Inc.'s income and expense accounts is?
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