Bruma, Inc. started Year 2 with total assets of $50,000 cash, $20,000 of liabilities, and $20,000 of retained earnings. During Year 2, the retained earnings account increased by $8,500. Bruma paid cash expenses of $15,000 and paid a $4,000 cash dividend. Additionally, Bruma paid $2,000 cash to reduce the liabilities owed to vendors and the business acquired $8,000 of accitional cash from the issue of common stock. Record of the amount of cash revenue received is missing!
Bruma, Inc. started Year 2 with total assets of $50,000 cash, $20,000 of liabilities, and $20,000 of retained earnings. During Year 2, the retained earnings account increased by $8,500. Bruma paid cash expenses of $15,000 and paid a $4,000 cash dividend. Additionally, Bruma paid $2,000 cash to reduce the liabilities owed to vendors and the business acquired $8,000 of accitional cash from the issue of common stock. Record of the amount of cash revenue received is missing!
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bruma, Inc. started Year 2 with total assets of $50,000 cash, $20,000 of liabilities, and $20,000 of
Record of the amount of cash revenue received is missing!
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