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Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000
- Elston Company compiled the following financial information as of December 31, 2014:
- Service revenue $700,000
- Common stock 150,000
- Machine 350,000
- Operating expenses 625,000
- Cash 200,000
- Dividends 50,000
- Supplies 25,000
- Accounts payable 100,000
- Accounts receivable 75,000
- Inventory 80,000
- Retained earnings, 1/1/14 375,000
- Elston's assets on December 31, 2014 are
$475,000
$730,000
$650,000
$625,000
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