Question
Q1. From the information given, prepare a statement of retained earnings. ABC corporation had an initial investment of SAR50,000 cash and other information was as
Q1. From the information given, prepare a statement of retained earnings.
ABC corporation had an initial investment of SAR50,000 cash and other information was as follows:
| Accounts payable | SAR12,000 | Office furnishings | SAR40,000 |
| Accounts receivable | 23,000 | Dividends | 6,000 |
| Cash | 17,200 | Rent expense | 3,600 |
| Fees earned | 30,000 | Salaries expense | 6,200 |
| Notes payable | 4,250 | Telephone expense | 250 |
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
15th edition
978-0133428704
