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How would you calculate the retained earnings of this?March Transactions Date March 1 March 1 March I March 3 March 8 March 10 March I
How would you calculate the retained earnings of this?March Transactions
Date March 1 March 1 March I March 3 March 8 March 10 March I I March 18 March 20 March 31 March 31 March 31 March Transactions Transaction Descri tion Began business by making a deposit in a company bank account of $22500, in exchange for 2,250 shares of $10 par value common stock. Paid the premium on a I-year insurance policy, $2, 160. Paid the current month's rent expense, $1 ,800. Purchased repair equipment from Fred Company, $5,800. Paid $2200 down and the balance was placed on account. The rest WII be paid in equal payments over the next 12 months. The first payment is due 4/1 . Note: Use Accounts Payable for the Balance Due. Purchased repair supplies from Gary Company on credit, $650. Paid telephone bill for March, $400. Cash flight management system (FMS) repair revenue for the first third of March, $2000. Made payment to Gary Company, $400. Cash FMS repair revenue for the second third of March, $2,450. Cash FMS repair revenue for the last third of March, $1 ,500. Paid the current month's electic bill, $300. Declared and paid cash dividend of $1 ,OOO.
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