Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

Rus opened a new corporation last year with a stock contribution of 10,000. The first year of business was a moderate success with revenue of

Rus opened a new corporation last year with a stock contribution of 10,000. The first year of business was a moderate success with revenue of 65,000. Rus also decided to compensate the owners with a dividendof 2,000. Ending retained earnings for the year were 44,000. What were the expenses for the year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Statistics

Authors: Mario F. Triola

12th Edition

0321836960, 978-0321836960

Students also viewed these Accounting questions

Question

★★★★★

Find the interest rates, or rates of return, on each of the following: a. You borrow $700 and promise to pay back $749 at the end of one year. b. You lend $700 and receive a promise to be paid $749...

Answered: 1 week ago

Question

★★★★★

Examine alternative approaches to behavior therapy.

Answered: 1 week ago

Question

★★★★★

MacDonald Industries completed the following transactions during 2016: Nov. 1 Made sales of $32,000. MacDonald estimates that warranty expense is 6% of sales. (Record only the warranty expense.) 20...

Answered: 1 week ago

Question

★★★★★

help acc-3365-Excel-2-F17R1106 (1) Excel Sign in -0 File Home Insert Page Layout Fomulas Data Review View Tell me what you want to do Templates e primary purpose of this assignment is to give you...

Answered: 1 week ago

Question

★★★★★

Maria A Solo (SSN 318-01-6921) lives at 190 Glenn drive, grand rapids, Michigan 49527-2005. Maria (age 45 and single) claims her aunt, Selda Ray (ssn 282-61-4011), as a dependent. Selda lives with...

Answered: 1 week ago

Question

★★★★★

Directions: Review Briefing an Opinion on Pgs. 346 - 350 of Statsky 8 th Edition. Go to Google Scholar, select "Case law" and using the format illustrated in Exhibit 7-15 (Pg. 350) prepare thumbnail...

Answered: 1 week ago

Question

★★★★★

How does selection differ from recruitment ?

Answered: 1 week ago

Question

★★★★★

1. A man on a motorcycle is initially at point A At time t = 0, the man travels along the + path shown to point B. The amount of time required to complete each segment of the 2 set path is also...

Answered: 1 week ago

Question

★★★★★

A 6 m high pier rests on a 2 m x 2 m square footing at 1-5 m depth from the surface at a site having uniform clayey soils. The unconfined compressive strength of the clay is 100 kPa and its bulk unit...

Answered: 1 week ago

Question

★★★★★

As an analyst for FinCorp Inc., you are responsible for many firms, including ADFC. Currently you have a "hold" recommendation on ADFC.20 The current price of ADFC is $140. You have conducted an...

Answered: 1 week ago

Question

★★★★★

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...

Answered: 1 week ago

Previous Question Next Question