Harbor Bay Consulting had the following account balances at year-end: Cash: $18,500 ⚫ Accounts Receivable: $22,000 • ⚫ Office Supplies: $3,000 • • . Equipment: $46,000 Accumulated Depreciation-Equipment: $11,000 Accounts Payable: $8,200 ⚫ Notes Payable: $25,000 ⚫ Common Stock: $30,000 ⚫ Retained Earnings: ? If total assets at year-end equal total liabilities and stockholders' equity, what is the balance of Retained Earnings?

Harbor Bay Consulting had the following account balances at year-end: Cash: $18,500 ⚫ Accounts Receivable: $22,000 • ⚫ Office Supplies: $3,000 • • . Equipment: $46,000 Accumulated Depreciation-Equipment: $11,000 Accounts Payable: $8,200 ⚫ Notes Payable: $25,000 ⚫ Common Stock: $30,000 ⚫ Retained Earnings: ? If total assets at year-end equal total liabilities and stockholders' equity, what is the balance of Retained Earnings?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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