s Powered by Bb eCampus ePortfolios Community Content Collection HW Assignment 1 enu Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year- end: Accounts Receivable $28,000 Retained Earnings Accounts Payable 12,000 Supplies Cash Common Stock $? 8,000 7,000 Equipment, net 145,000 115,000 a. Calculate the balance in Retained Earnings at year-end. b. If the amount of the retained earnings at the beginning of the year was $38,000 and $13,000 in dividends is paid during the year, calculate net income for the year

s Powered by Bb eCampus ePortfolios Community Content Collection HW Assignment 1 enu Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year- end: Accounts Receivable $28,000 Retained Earnings Accounts Payable 12,000 Supplies Cash Common Stock $? 8,000 7,000 Equipment, net 145,000 115,000 a. Calculate the balance in Retained Earnings at year-end. b. If the amount of the retained earnings at the beginning of the year was $38,000 and $13,000 in dividends is paid during the year, calculate net income for the year

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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