bambi_923
Feb 1, 2011, 09:17 AM
This book as me lost to the greast extent possible here is the question:
From the information provided, determine:
1. The among of retained earnings at December 31.
2. The amount of revenues for that period.
Totals January 1 December 31
Current assets $ 15,000 $ 25,000
All other assets 240,000 220,000
Liabilities 125,000 85,000
Capital Stock 70,000??
Retained earnings 60,000??
Additional data:
Expenses for the peroid were $55,000
Dividends paid were $9,000
Capital stock increased by $20,000 during the period
From the information provided, determine:
1. The among of retained earnings at December 31.
2. The amount of revenues for that period.
Totals January 1 December 31
Current assets $ 15,000 $ 25,000
All other assets 240,000 220,000
Liabilities 125,000 85,000
Capital Stock 70,000??
Retained earnings 60,000??
Additional data:
Expenses for the peroid were $55,000
Dividends paid were $9,000
Capital stock increased by $20,000 during the period