Homework Answers
a) Beginning liabilities = Beginning assets-Beginning equity = 6579-(1066+506) = 5007
b) Cost and expense = Revenue-Net income = 9700-613 = 9087
c) Retained earnings end of period = Beginning retained earnings+Net income-Dividend = 506+613-266 = 853
d) Paid in capital end of period = 1066+102 = 1168
e) Assets end of period = Liabilities+Stockholder's equity = 5441+(1168+853) = 7462
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Answer all questions above
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