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Interest Income 4,500 What amount will be reported on the balance sheet at the end of the year for retained earnings? Please show all of your work so I know what numbers you specifically included or excluded for partial credit.

Interest Income 4,500 What amount will be reported on the balance sheet at the end of the year for retained earnings? Please show all of your work so I know what numbers you specifically included or excluded for partial credit.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash 42,000 91,000 Accounts Receivable Accrued Expenses 9,000 Dividends 5,000 16,000 Salary Expense Gain on sale of Investment he month of Jan Bad Debt Expense 12,000 h Corp 1,400 Equipment Accumulated Depreciation Depreciation Expense Loss on Sale of Equipment L/T Notes Receivable 70,000 10,000 1,800 2,000 25,000 92,000 Sales 8,000 1,300 Rent Income Supplies Expense Unearned Revenues 4,000 Interest Expense 200 Tax Expense Tax Payable 21,000 16,000 1,000 Capital Stock Retained Earnings (Beginning of the year) Rent Expense 115,900 credit balance 9,000 4,500 Interest Income What amount will be reported on the balance sheet at the end of the year for retained earnings? Please show all of your work so I know what numbers you specifically included or excluded for partial credit.
Transcribed Image Text:Cash 42,000 91,000 Accounts Receivable Accrued Expenses 9,000 Dividends 5,000 16,000 Salary Expense Gain on sale of Investment he month of Jan Bad Debt Expense 12,000 h Corp 1,400 Equipment Accumulated Depreciation Depreciation Expense Loss on Sale of Equipment L/T Notes Receivable 70,000 10,000 1,800 2,000 25,000 92,000 Sales 8,000 1,300 Rent Income Supplies Expense Unearned Revenues 4,000 Interest Expense 200 Tax Expense Tax Payable 21,000 16,000 1,000 Capital Stock Retained Earnings (Beginning of the year) Rent Expense 115,900 credit balance 9,000 4,500 Interest Income What amount will be reported on the balance sheet at the end of the year for retained earnings? Please show all of your work so I know what numbers you specifically included or excluded for partial credit.
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