Question
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment $23,500 Accounts payable 2,500 Salaries expense 30,500 Common stock
Wolfpack Construction has the following account balances at the end of the year.
Accounts
Balances
Equipment
$23,500
Accounts payable
2,500
Salaries expense
30,500
Common stock
12,000
Land
15,500
Notes payable
17,500
Service revenue
36,500
Cash
5,500
Retained earnings
?
Calculate retained earnings and show calculation
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Financial Accounting
Authors: Jamie Pratt, Michael F Peters
11th Edition
1119745322, 978-1119745327
