12.What are the retained earnings from the information provided below? Inventory Common stock $ 6500 $ 45,000 Cash Operating expenses $ 16,550 $ 1350 Short-term notes payable Interest expense $ 600 $ 900 Depreciation expense $ 500 Sales $ 12,800 Accounts receivable Accounts payable Long-term debt Cost of goods sold Buildings and equipment Accumulated depreciation Taxes General administrative expenses $ 5750 $1,22,000 $ 34000 $ 1440 $850 $ 9600 $ 4800 $ 55,000
12.What are the retained earnings from the information provided below? Inventory Common stock $ 6500 $ 45,000 Cash Operating expenses $ 16,550 $ 1350 Short-term notes payable Interest expense $ 600 $ 900 Depreciation expense $ 500 Sales $ 12,800 Accounts receivable Accounts payable Long-term debt Cost of goods sold Buildings and equipment Accumulated depreciation Taxes General administrative expenses $ 5750 $1,22,000 $ 34000 $ 1440 $850 $ 9600 $ 4800 $ 55,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
correct answers ?
![12.What are the retained earnings from the information provided
below?
Inventory
Common stock
$ 6500
$ 45,000
Cash
Operating expenses
$ 16,550
$ 1350
Short-term notes payable
Interest expense
$ 600
$ 900
Depreciation expense
$ 500
Sales
$ 12,800
Accounts receivable
Accounts payable
Long-term debt
Cost of goods sold
Buildings and equipment
Accumulated depreciation
Taxes
General administrative expenses
$ 5750
$1,22,000
$ 34000
$ 1440
$850
$ 9600
$ 4800
$ 55,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6b1fd4f3-a648-45e1-a59e-e3b0371f4bc9%2Ff32f1f5c-6a30-4579-a2cf-f56e38413f4e%2Fb16l1dp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:12.What are the retained earnings from the information provided
below?
Inventory
Common stock
$ 6500
$ 45,000
Cash
Operating expenses
$ 16,550
$ 1350
Short-term notes payable
Interest expense
$ 600
$ 900
Depreciation expense
$ 500
Sales
$ 12,800
Accounts receivable
Accounts payable
Long-term debt
Cost of goods sold
Buildings and equipment
Accumulated depreciation
Taxes
General administrative expenses
$ 5750
$1,22,000
$ 34000
$ 1440
$850
$ 9600
$ 4800
$ 55,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education