Question
Use the following to answer questions 15 - 19 T Retro Cars, Inc., had the following account balances at the end of December: Accounts
Use the following to answer questions 15 - 19 T Retro Cars, Inc., had the following account balances at the end of December: Accounts Accounts payable Balances $30,000 Beginning Retained earnings 150,000 Utilities expense 20,000 Common stock 350,000 Cash 33,000 Supplies 2,000 Salaries expense 350,000 Service revenue 525,000 Dividends 50,000 Land/Building ? 15. $ year? 16. $ year. What were total expenses for the Calculate their net income for the 17. $ _Calculate their ending balance in Retained Earnings. 18. $ What is their balance in stockholder's equity on 12/31. 19. $ What is the balance of the Land/Building account.
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