The asset, liability, revenue, and expense accounts in the ledger of Mickey Mouse Co. on December 31, 2007, are listed in alphabetical order. All accounts have normal balances. Accounts Payable $3,500 Insurance Expense $1,300 Accounts Receivable $1,800 Land $ 4,000 $2,000 $ 700 $ 6,400 $1,200 Cash Store Supplies Equipment Unearned Rent Fees Earned Wages Expense $ 6,000 $ 1,500 If the Owner's equity on December 31, 2006, was $6,700, and dividends of $1,400 were paid during 2007, determine the additional investments (if any) that the owner made in the business during 2007. A. $8,500 B. $700 C. $1,700 D. $0

The asset, liability, revenue, and expense accounts in the ledger of Mickey Mouse Co. on December 31, 2007, are listed in alphabetical order. All accounts have normal balances. Accounts Payable $3,500 Insurance Expense $1,300 Accounts Receivable $1,800 Land $ 4,000 $2,000 $ 700 $ 6,400 $1,200 Cash Store Supplies Equipment Unearned Rent Fees Earned Wages Expense $ 6,000 $ 1,500 If the Owner's equity on December 31, 2006, was $6,700, and dividends of $1,400 were paid during 2007, determine the additional investments (if any) that the owner made in the business during 2007. A. $8,500 B. $700 C. $1,700 D. $0

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

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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