Riverstone Industries reported the following information at December 31, 2022: . Accounts payable: $350,000 • Dividends paid: $120,000 ⚫ Cash: $150,000 • • Expenses: $500,000 Inventories: $800,000 • Revenue: $950,000 Calculate Riverstone Industries' total equity at the end of 2022.

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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Riverstone Industries reported the following information at December 31, 2022:
.
Accounts payable: $350,000
•
Dividends paid: $120,000
⚫ Cash: $150,000
•
•
Expenses: $500,000
Inventories: $800,000
•
Revenue: $950,000
Calculate Riverstone Industries' total equity at the end of 2022.
Transcribed Image Text:Riverstone Industries reported the following information at December 31, 2022: . Accounts payable: $350,000 • Dividends paid: $120,000 ⚫ Cash: $150,000 • • Expenses: $500,000 Inventories: $800,000 • Revenue: $950,000 Calculate Riverstone Industries' total equity at the end of 2022.
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