What is the total amount of credits? Cash : 12,000 Retained earnings : 31,000 Prepaid Rent : 2,000 Salaries Expense : 15,000 Equipment : 68,000 Service Revenue : 40,000 Miscellaneous Expense : 10,000 Supplies : 4,000 Dividends : 3,000 Accounts Payable : 5,000 Common stock : 38,000 A. 111,000 B. 114,000 C. 86,000 D. 81,000

What is the total amount of credits? Cash : 12,000 Retained earnings : 31,000 Prepaid Rent : 2,000 Salaries Expense : 15,000 Equipment : 68,000 Service Revenue : 40,000 Miscellaneous Expense : 10,000 Supplies : 4,000 Dividends : 3,000 Accounts Payable : 5,000 Common stock : 38,000 A. 111,000 B. 114,000 C. 86,000 D. 81,000

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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Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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