What is the retained earnings after these Transactions? 1. The begining balance of retained earnings is $190000 2. Paid $10000 dividend of preference shares 3. Sales on account $80000, 3% were estimated to be uncollectable, and estimated warranty expense was 4% of sales. The cost of sales was $50000. 4.Issued 1000 ordinary shares to acquire valued at 1000 and equipment with market value of $19800. The cost of equioment was $40000 and accumulated depreciation was $28000. 5. Recored depreciation expenses of $8200 Note: Not all information is useful for these questions.
What is the retained earnings after these Transactions? 1. The begining balance of retained earnings is $190000 2. Paid $10000 dividend of preference shares 3. Sales on account $80000, 3% were estimated to be uncollectable, and estimated warranty expense was 4% of sales. The cost of sales was $50000. 4.Issued 1000 ordinary shares to acquire valued at 1000 and equipment with market value of $19800. The cost of equioment was $40000 and accumulated depreciation was $28000. 5. Recored depreciation expenses of $8200 Note: Not all information is useful for these questions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the
1. The begining balance of retained earnings is $190000
2. Paid $10000 dividend of
3. Sales on account $80000, 3% were estimated to be uncollectable, and estimated warranty expense was 4% of sales. The cost of sales was $50000.
4.Issued 1000 ordinary shares to acquire valued at 1000 and equipment with market value of $19800. The cost of equioment was $40000 and
5. Recored depreciation expenses of $8200
Note: Not all information is useful for these questions.
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