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(USE THIS INFORMATION TO ANSWER THE NEXT TWO QUESTIONS Comet Corporation began operations on January 1, 2016, with an investment of $150,000 by cach of
(USE THIS INFORMATION TO ANSWER THE NEXT TWO QUESTIONS Comet Corporation began operations on January 1, 2016, with an investment of $150,000 by cach of its two stockholders. Net income for its first year of business was $92,000. During 2017 and 2018, net income increased to $188,000 and to $217,000 respectively. Comet paid $40,000 in dividends to cach of the two stockholders in cach of the three years. During 2018, the owners invested an additional $50,000 cach into the business. 11. Determine the ending value of Comet's Retained Eamings et December 31, 2018. S 12. Determine the total amount of Comet's Stockholders' Equity et December 31, 2018. S (USE THIS INFORMATION TO ANSWER THE NEXT FOUR QUESTIONS The account balances for Hollywood Cineplex Corporation are listed below. All balances are as of December 31, 2018, except where noted, otherwise. Accounts Payable $16.500 Furniture & Fixtures $32,000 Accounts Receivable 4.500 Notes Payable (due 9/1/2020) 20,000 Utility Expcnc 6,000 Prepaid Expenses 6.000 Advertising Expense 11.200 Projection Equipment 30.000 Buildings 97,000 Rent Expenses - Movies 50.600 Common Stock ? Retained Emina Jan 1, 2018) 73.690 Cash 15.000 Salaries and Wores Expense 36490 Concessions Revenge 56.200 Ticket Sales Revenue 93.500 Cost of Goods Sold (Concessions 17.800 Uneamed Revenge 7.500 Dividends 2.000 ACCT 2301 (Fall 2021) Fa MacBook Pro 30 3 00 F7 DI FB DD F9 F4 F5
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