Question
In 2022 Hill Production, Inc. made a total distribution of $10,000. This amount was paid to the 4 shareholders in accordance with their ownership percentage.
In 2022 Hill Production, Inc. made a total distribution of $10,000. This amount was paid to the 4 shareholders in accordance with their ownership percentage. Review the corporation's Balance Sheet with the distribution acconted for. If the corporation had not made this distribution the end of the year cash account would be higher, which of the following end-of-year items on the balance sheet would also be higher if the corporation had not made a distribution in 2022?
Additional paid in capital
Notes payable long term
Retained earnings
Notes payable short term
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