Rodgers Company compiled the following financial information as of December 31, 20XX: Sales revenue $1,120,000 Common stock 240,000 Buildings 320,000 Operating expenses 1,000,000 Cash 280,000 Dividends 80,000 Inventory 40,000 Accounts payable 160,000 Accounts receivable 120,000 Retained earnings, 1/1/20XX 600,000 Rodger’s assets on December 31, 20XX are a. $1,880,000. b. $1,360,000. c. $640,000. d. $760,000.
Rodgers Company compiled the following financial information as of December 31, 20XX: Sales revenue $1,120,000 Common stock 240,000 Buildings 320,000 Operating expenses 1,000,000 Cash 280,000 Dividends 80,000 Inventory 40,000 Accounts payable 160,000 Accounts receivable 120,000 Retained earnings, 1/1/20XX 600,000 Rodger’s assets on December 31, 20XX are a. $1,880,000. b. $1,360,000. c. $640,000. d. $760,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rodgers Company compiled the following financial information as of December 31, 20XX:
Sales revenue $1,120,000
Common stock 240,000
Buildings 320,000
Operating expenses 1,000,000
Cash 280,000
Dividends 80,000
Inventory 40,000
Accounts payable 160,000
Accounts receivable 120,000
Retained earnings, 1/1/20XX 600,000
Rodger’s assets on December 31, 20XX are
a. $1,880,000.
b. $1,360,000.
c. $640,000.
d. $760,000.
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