Please caclulate the amounts & check the correct boxes. Thanks
signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator &inprogress=false Ug On November of the current year, Rob Eliot invested $29,750,00 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 successtul first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that dute, the financial statements were prepared. The balance sheet reported total assets of $56,150.00 and total stockholders' equity of $38,300.00 Fees Accounts Receivable $8,600.00 Accounts Payable Common Stock Cash Retained Earnings $5,000.00 Supplies Expense Land Dividends Rent Expense $6,425.00 Earned $27.250.00 Utilities Expense 54.675.00 Wages Expense $1,190,00 Miscellaneous Expense $460.00 ? $16,000.00 7 $5,750.00 ? on the financial statement Review the following questions. Place an Xin the box to indicato which financial statement(s) report the desired Mommation Enter the amount Balance Income Retained Earnings Sheet Statement Statement 1. What is the amount reported for total liabilities and stockholders' equity on December 31? 2. What is the retained earnings amount reported on December 31% 3. How much does GGE Enterprises Inc. owe to its creditors? X 4. How much cash is being held by GGE Enterprises Inc.? X 5. By what amount did retained earnings increase or decrease during the period? 6. What is the amount of profit or loss during December? X 7. What were the total expenses for December? X B. How much was paid for supplies? Amount $56,150.00 $8,550.00 $17.850.00 $31,550.00 $3,550.00 $4,300.00 $22.950.00 $10,200.00 signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator &inprogress=false Ug On November of the current year, Rob Eliot invested $29,750,00 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 successtul first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that dute, the financial statements were prepared. The balance sheet reported total assets of $56,150.00 and total stockholders' equity of $38,300.00 Fees Accounts Receivable $8,600.00 Accounts Payable Common Stock Cash Retained Earnings $5,000.00 Supplies Expense Land Dividends Rent Expense $6,425.00 Earned $27.250.00 Utilities Expense 54.675.00 Wages Expense $1,190,00 Miscellaneous Expense $460.00 ? $16,000.00 7 $5,750.00 ? on the financial statement Review the following questions. Place an Xin the box to indicato which financial statement(s) report the desired Mommation Enter the amount Balance Income Retained Earnings Sheet Statement Statement 1. What is the amount reported for total liabilities and stockholders' equity on December 31? 2. What is the retained earnings amount reported on December 31% 3. How much does GGE Enterprises Inc. owe to its creditors? X 4. How much cash is being held by GGE Enterprises Inc.? X 5. By what amount did retained earnings increase or decrease during the period? 6. What is the amount of profit or loss during December? X 7. What were the total expenses for December? X B. How much was paid for supplies? Amount $56,150.00 $8,550.00 $17.850.00 $31,550.00 $3,550.00 $4,300.00 $22.950.00 $10,200.00
