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Golden Enterprises started the year with the following: Assets $127.000, Liabilities $43,000; Common Stock $73,000, Retained Earnings $11,000. During the year, the company earned revenue
Golden Enterprises started the year with the following: Assets $127.000, Liabilities $43,000; Common Stock $73,000, Retained Earnings $11,000. During the year, the company earned revenue of $6,700, all of which was received in cash, and incurred expenses of $3,850, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2,700 to owners. Assume no other activities occurred during the year The amount of Golden's abilities at the end of the year is
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