Question
Use the following information compiled for our company at the end of the current year to answer these questions: Cash $1,900 Accounts receivable $3,200 Equipment
Use the following information compiled for our company at the end of the current year to answer these questions:
Cash | $1,900 |
Accounts receivable | $3,200 |
Equipment | $200 |
Vehicle | $3,500 |
Accounts payable | $2,000 |
Unearned revenue | $700 |
Common stock | $1,500 |
Retained earnings | $3,500 (Balance as of January 1 of the current year) |
Dividends | $500 |
Service revenue | $5,000 |
Salaries expense | $2,500 |
Rent expense | $400 |
Advertising expense | $500 |
Calculate the dollar amount for net income on our current years income statement (December 31).
[ Select ] ["$1,100", "$1,600", "$2,100", "$3,500"]
Calculate the dollar amount for retained earnings on our balance sheet at the end of the current year (December 31).
[ Select ] ["$4,100", "$5,100", "$4,600", "$6,500"]
Calculate the dollar amount for total assets on our balance sheet at the end of the current year (December 31).
[ Select ] ["$8,800", "$10,300", "$10,600", "$13,800"]
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