L)

Here is, in order, the list of adjusted accounts of the company Compte Ltd for the year ended December 31, X6: Common shares ($175,000); Retained earnings ($325,000); Accounts Payable ($4,000); Products ($850,000); Administrative expenses ($220,000); Operating expenses ($350,000); Cash ($35,000); Accounts receivable ($144,800); Insurance paid in advance ($2,500); Trucks ($175,000); Warehouse ($450,000); Advertising ($16,000); Financial expenses ($3,500); Miscellaneous charges ($147,200); Loan ($250,000); Accumulated depreciation - Truck ($70,000); Accumulated amortization - Warehouse ($45,000).

From this information, indicate the balance of the retained earnings account (RND) as of December 31 X6?

Question

L)

Here is, in order, the list of adjusted accounts of the company Compte Ltd for the year ended December 31, X6: Common shares ($175,000); Retained earnings ($325,000); Accounts Payable ($4,000); Products ($850,000); Administrative expenses ($220,000); Operating expenses ($350,000); Cash ($35,000); Accounts receivable ($144,800); Insurance paid in advance ($2,500); Trucks ($175,000); Warehouse ($450,000); Advertising ($16,000); Financial expenses ($3,500); Miscellaneous charges ($147,200); Loan ($250,000); Accumulated depreciation - Truck ($70,000); Accumulated amortization - Warehouse ($45,000).

From this information, indicate the balance of the retained earnings account (RND) as of December 31 X6?

Accepted Answer

The Answer is in the image, click to view ...

Question

L) Here is, in order, the list of adjusted accounts of the company Compte Ltd for the year ended December 31, X6: Common shares ($175,000);

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question