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The following accounts and balances were drawn from the records of Jared Company: Cash $8,180 Accounts payable $5,580 Common stock $4,000 Land $17,100 Accounts receivable $2,400 Based on this information alone the amount of Jared's retained earnings is a. $9,580 b. $22,100 c. $16,160 d. $18,100

The following accounts and balances were drawn from the records of Jared Company: Cash $8,180 Accounts payable $5,580 Common stock $4,000 Land $17,100 Accounts receivable $2,400 Based on this information alone the amount of Jared's retained earnings is a. $9,580 b. $22,100 c. $16,160 d. $18,100

FINANCIAL ACCOUNTING
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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The following accounts and balances were drawn from the records of Jared Company: Cash $8,180 Accounts payable $5,580 Common stock $4,000 Land $17,100 Accounts receivable $2,400 Based on this information alone the amount of Jared's retained earnings is a. $9,580 b. $22,100 c. $16,160 d. $18,100
Transcribed Image Text:The following accounts and balances were drawn from the records of Jared Company: Cash $8,180 Accounts payable $5,580 Common stock $4,000 Land $17,100 Accounts receivable $2,400 Based on this information alone the amount of Jared's retained earnings is a. $9,580 b. $22,100 c. $16,160 d. $18,100
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