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On November 1 of the current year, Rob Elliot invested $ 3 0 , 7 5 0 of his cash to form a corporation, GGE
On November of the current year, Rob Elliot invested $ of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. After a very successful first month of operations, the retained earnings as of November were reported at $ After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $ and total stockholders' equity of $ Cash Supplies Land Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Supplies Expense Utilities Expense Miscellaneous Expense $ $ $ $ $ $ $ $ $ Review the following questions. Indicate which financial statements report the desired information. Enter the amount reported on the financial statement. Select "Yes" or No from the below dropdowns. Balance Sheet Income Statement Statement of Stockholders' Equity Amount What is the amount reported for total liabilities and stockholders' equity on December $fill in the blank effc What is the retained earnings amount reported on December $fill in the blank effc How much does GGE Enterprises Inc. owe to its creditors? $fill in the blank effc How much cash is being held by GGE Enterprises Inc.? $fill in the blank effc By what amount did retained earnings increase or decrease during the period? $fill in the blank effc What is the amount of profit or loss during December? $fill in the blank effc What were the total expenses for December? $fill in the blank effc How much was paid for rent? $fill in the blank effc
On November of the current year, Rob Elliot invested $ of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. After a very successful first month of operations, the retained earnings as of November were reported at $ After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $ and total stockholders' equity of $
Cash
Supplies
Land Accounts
Payable Common
Stock Retained
Earnings
Dividends Fees
Earned Wages
Expense Rent
Expense Supplies
Expense Utilities
Expense Miscellaneous
Expense
$ $ $ $ $ $ $ $ $
Review the following questions. Indicate which financial statements report the desired information. Enter the amount reported on the financial statement.
Select "Yes" or No from the below dropdowns.
Balance
Sheet
Income
Statement Statement of
Stockholders'
Equity
Amount
What is the amount reported for total liabilities and stockholders' equity on December
$fill in the blank effc
What is the retained earnings amount reported on December
$fill in the blank effc
How much does GGE Enterprises Inc. owe to its creditors?
$fill in the blank effc
How much cash is being held by GGE Enterprises Inc.?
$fill in the blank effc
By what amount did retained earnings increase or decrease during the period?
$fill in the blank effc
What is the amount of profit or loss during December?
$fill in the blank effc
What were the total expenses for December?
$fill in the blank effc
How much was paid for rent?
$fill in the blank effc
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