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    Tammijones's Avatar
    Tammijones Posts: 12, Reputation: 1
    New Member
    		  
    #1

    Sep 24, 2008, 09:10 AM
    Calculating Retained Earnings
    Sandra's Cookies Company engaged in these transactions:
    -The business acquired an additional $500 cash from the issue of common stock
    - The company REpaid $1,300 of its debit to the bank
    - Revenues amounted ti $4,500
    -Expenses were $2,750
    -Dividends Amounted to $740

    The amount of retained earnings is?
    a. 1,210
    b. 2,900
    c. 9,900
    d. 1,000

    And what would the liabilities add up to?
    AdamUTsel's Avatar
    AdamUTsel Posts: 100, Reputation: 2
    Junior Member
    		  
    #2

    Sep 24, 2008, 09:46 AM

    I think you may be missing some information from the question such as opening period balances in your posting.
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