The assets and liabilities of Flub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,970 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,090 Accounts Receivable: $6,930 Cash: $29,010 Land: $56,880 Miscellaneous Expense: $1,630 Office Expense: $7,880 Dividends: $8,470 Stock: $75,880 Equipment: $63,000 Fees Earned: $111,770 Supplies: $3,640 Wage Expense: $22,270 Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Flub Services would report the following amounts: Net Income: $ Ending Retained Earnings: $ Ending Total Liabilities and Equity: $
The assets and liabilities of Flub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,970 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,090 Accounts Receivable: $6,930 Cash: $29,010 Land: $56,880 Miscellaneous Expense: $1,630 Office Expense: $7,880 Dividends: $8,470 Stock: $75,880 Equipment: $63,000 Fees Earned: $111,770 Supplies: $3,640 Wage Expense: $22,270 Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Flub Services would report the following amounts: Net Income: $ Ending Retained Earnings: $ Ending Total Liabilities and Equity: $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The assets and liabilities of Flub Services as of March 31, 2020, the end of the current year, and its
revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings
balance was $10,970 at April 1, 2019, the beginning of the current year.
Accounts Payable: $1,090
Land: $56,880
Accounts Receivable: $6,930
Miscellaneous Expense: $1,630
Cash: $29,010
Office Expense: $7,880
Dividends: $8,470
Stock: $75,880
Equipment: $63,000
Fees Earned: $111,770
Supplies: $3,640
Wage Expense: $22,270
Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Flub
Services would report the following amounts:
Net Income: $
Ending Retained Earnings: $
Ending Total Liabilities and Equity: $
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