Question
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
Principles Of Financial Accounting
Authors: Kermit Larson, John Wild
20th Edition
77338235, 978-0077619442
