Question
The following data are available for Louis Candies Inc. as of December 31, 2019. Cash $ 7,500 Accounts payable 24,000 Accounts receivable 20,000 Capital stock
The following data are available for Louis Candies Inc. as of December 31, 2019.
Cash $ 7,500
Accounts payable 24,000
Accounts receivable 20,000
Capital stock 42,000
Buildings 49,500
Supplies 2,000
Retained earnings ?
Land 20,000
Required:
- Prepare a balance sheet for Louis Candies Inc.
- Determine the amount of retained earnings at December 31, 2019.
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Financial Accounting
Authors: Karen Bird, Gene Imhoff
3rd Edition
0984200541, 9780984200542
