Question

Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 94Total Assets $ 126,830 126,830 Liabilities and Stockholders Equity Liabilities Accounts Payable $ 3,700 Interest Payable 530What's retained earnings. total stockholders' equity, and total liabilities and stockholders' equity?

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Answer #1
calculation of retained earning
common stock+retained earning+liabilities=total assets
55000+retained earning+38440 =126830
retained earning = 126830-93440 = 33390
Balance sheet
assets
cash 6240
accounts receivable 3400
inventory 2810
supplies 3780
equipment 110600
total assets 126830
liabilities & stockholders equity
liabilities
accounts payable 3700
interest payable 530
notes payable 32500
salaries & wages payable 770
unearned service revenue 940
total liabilities 38440
stockholders equity
common stock 55000
retained earning 33390
total stockholder equity 88390
total liablities & stockholder equity 126830

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