8. The following data are available for Influence corporation as of 6/30/23: Cash $13,150 10,900 27,000 66,000 31,500 1,500 100,000 77,950 ??? Receivables from customers Inventory of merchandise Equipment owned Accounts Payable Salary Payable Total Sales Revenue Expenses Common Stock No dividends were paid during the year Assume beginning Retained Earnings is

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 8

What is the amount of Ramona's current assets?
8. The following data are available for Influence corporation as of 6/30/23:
Cash
$13,150
10,900
27,000
66,000
Receivables from customers
Inventory of merchandise
Equipment owned
Accounts Payable
Salary Payable
Total Sales Revenue
Expenses
Common Stock
2,600
No dividends were paid during the year
Assume beginning Retained Earnings is 0
31,500
1,500
100,000
77,950
???
Prepare the following financial statements for Influence Corporation:
1. Income Statement
2. Balance Sheet
3. Statement of Retained Earnings
Transcribed Image Text:What is the amount of Ramona's current assets? 8. The following data are available for Influence corporation as of 6/30/23: Cash $13,150 10,900 27,000 66,000 Receivables from customers Inventory of merchandise Equipment owned Accounts Payable Salary Payable Total Sales Revenue Expenses Common Stock 2,600 No dividends were paid during the year Assume beginning Retained Earnings is 0 31,500 1,500 100,000 77,950 ??? Prepare the following financial statements for Influence Corporation: 1. Income Statement 2. Balance Sheet 3. Statement of Retained Earnings
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