What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Homework Answers
| 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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