Golden Hawks Inc. reported the following amounts on its statement of financial position at December 31, 2020 Accounts receivable 55000 Cash 8000 Deferred revenue 42000 Inventory 25000 Land 320000 Notes payable 22000 Retained earnings ? Contributed capital 32000 How much was retained earnings ? Your Answer:

Golden Hawks Inc. reported the following amounts on its statement of financial position at December 31, 2020 Accounts receivable 55000 Cash 8000 Deferred revenue 42000 Inventory 25000 Land 320000 Notes payable 22000 Retained earnings ? Contributed capital 32000 How much was retained earnings ? Your Answer:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Prince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000
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