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Balance Sheet and Retained Earnings
Asked Apr 13, 2007, 11:41 AM
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4 Answers Company X had the following accounts and balances in its general ledger at December 31, 20x9. Cash $45,000 Accounts Payable $80,000 Property & Equipment $200,000 Long Term Debt $ 60,000 Capital Stock $150,000 Accounts Receivable $90,000 Retained Earnings ? Inventory $75,000 1. What amount will Company X report on its balance sheet for Total Assests? I say $410,000 2. What is Company X's Retained Earnings balance at the end of 20x9? I say $270,000 How did I do? I feel lost. Thanks in advance for any help. |
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