M Corporation compiled the following information on December, 20218,40,0001,90,000Service RevenueCommon StockEquipmentOperating ExpenseCashDividends2540007,27,0002,05,00064,00030,0001,09,00090,000Retained Earmings (01/01/20210) 4,51,000SuppliesAccounts PayableAccounts receivableCalculate M Corporation's Shareholder's Equity on December 31, 2021:$690,000$660,000$481000$731000

Name: M Corporation compiled the following information on December, 20218,4
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Description: M Corporation compiled the following information on December, 20218,40,0001,90,000Service RevenueCommon StockEquipmentOperating ExpenseCashDividends2540007,27,0002,05,00064,00030,0001,09,00090,000Retained Earmings (01/01/20210) 4,51,000SuppliesAccou

Shareholders' equity refers to the amount in the balance sheet that is attributable to the equity…

Business

Accounting

M Corporation compiled the following information on December, 2021 Service Revenue Common Stock |Equipment Operating Expense Cash Dividends Supplies Accounts Payable Accounts receivable Retained Earnings (01/01/20210) | 4,51,000 8,40,000 1,90,000 254000 7,27,000 2,05,000 64,000 30,000 1,09,000 90,000 Calculate M Corporation's Shareholder's Equity on December 31, 2021: O $690,000 O $660,000 O $481000 $731000

M Corporation compiled the following information on December, 2021 Service Revenue Common Stock |Equipment Operating Expense Cash Dividends Supplies Accounts Payable Accounts receivable Retained Earnings (01/01/20210) | 4,51,000 8,40,000 1,90,000 254000 7,27,000 2,05,000 64,000 30,000 1,09,000 90,000 Calculate M Corporation's Shareholder's Equity on December 31, 2021: O $690,000 O $660,000 O $481000 $731000

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

M Corporation compiled the following information on December, 2021
8,40,000
1,90,000
Service Revenue
Common Stock
Equipment
Operating Expense
Cash
Dividends
254000
7,27,000
2,05,000
64,000
30,000
1,09,000
90,000
Retained Earmings (01/01/20210) 4,51,000
Supplies
Accounts Payable
Accounts receivable
Calculate M Corporation's Shareholder's Equity on December 31, 2021:
$690,000
$660,000
$481000
$731000

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