Accounts payable balance

lbchiquita Posts: 1, Reputation: 1

New Member

#21

May 8, 2012, 04:40 PM

Originally Posted by jonesclifton

On September 1, 2012, Baxter Inc. Reported Retained Earnings of $272,000. During the month, Baxter generated revenues of $40,000, incurred expenses of $24,000, purchased equipment for $10,000 and paid dividends of $4,000. What is the balance in Retained Earnings at September 30, 2012?
$272,000 debit
$16,000 credit
$274,000 credit
$284,000 credit

It is not 272 Debit and it is not 274000 credit.

Add your answer here.

Check out some similar questions!

Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of [ 1 Answers ]

Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

Trent Company's trial balance of 12/31/10 appear below: 1. Accounts Payable $ 160,000 [ 1 Answers ]

I am trying to do an adjusting trial balance but I can't get it Trent Company's trial balance of 12/31/10 appear below: 1. Accounts Payable $ 160,000 2. Accounts Receivable 150,000 3. Accumulated Depreciation--Equipment 200,000 4. Allowance for Doubtful Accounts 20,000 5. Bonds Payable 500,000 6....

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,0 [ 1 Answers ]

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,000 in Cash and $7,500 in Supplies, what is the net income for this company? Explain answer.

Accounts payable not show up on balance sheet in peachtree [ 1 Answers ]

When entering bills into peachtree those payables are not included in the balance sheet as "accounts payable" even though those are bills due. Am I missing something? Is there a way to set the company up to view those transactions? Thanks for your help!

Accounts Payable - Invoice balance reclass from open payables. [ 1 Answers ]

I have a vendor invoice that we made partial payment on and now the vendor is forgiving the balance. I don't want it to stay on open payables so where should I direct the balance on the general ledger?