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Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the
Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies $10,000 9,000 7,000 Equipment 4,000 Accounts payable 11,000 Common stock 14,000 Retained earnings, Dec. 31, prior year 3,000 Retained earnings, Dec. 31, current year 5,000 Dividends. 13,000 Consulting revenue 33,000 Rental revenue 22,000 Salaries expense 20,000 Rent expense 12,000 Selling and administrative expenses 8,000
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