Assume a company commenced operations on January 1, 2019. Its accounting records showed the following account balances at January 31: Accounts Payable $5,000 Bank Loan 10,000 Dividends $3,000 Rent Expense 23,000 Revenue 55,000 Common Stock 5,000 Salaries Expense 18,000 What is the balance in Retained Earnings account at January 31, 2019? $14,000 $6,000 $43,000 $11,000

Assume a company commenced operations on January 1, 2019. Its accounting records showed the following account balances at January 31: Accounts Payable $5,000 Bank Loan 10,000 Dividends $3,000 Rent Expense 23,000 Revenue 55,000 Common Stock 5,000 Salaries Expense 18,000 What is the balance in Retained Earnings account at January 31, 2019? $14,000 $6,000 $43,000 $11,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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