Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. golden enterprises started the year with the follo

Golden Enterprises started the year with the following: Assets $106,000; Liabilities $36,000; Common Stock $66,000;...

80.2K

Verified Solution

Question

Accounting

Golden Enterprises started the year with the following: Assets $106,000; Liabilities $36,000; Common Stock $66,000; Retained Earnings $4,000. During the year, the company earned revenue of $5,600, all of which was received in cash, and incurred expenses of $3,300, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,600 to owners. Assume no other activities occurred during the year.

The amount of Golden's assets at the end of the year is:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

What is the horizontal asymptote of f x 2x X 1 O O O O...

Finance
1.2K views

According to John Connors, former CFO of Microsoft, how does a company decide whether to increase...

Medical Sciences
1.2K views

In 200 words or more, describe the similarities and differences between neurotransmitters and hormones.

Psychology
1.2K views

What justifications did America give for going to war in Vietnam? Were those reasons justifiable? Why...

Biology
1.2K views

How are DNA and RNA different CHECK ALL THAT APPLY y DNA can leave the...

Geometry
1.2K views

O The function f x would be translated up 1 Question 3 12 5 points...

Statistics
1.2K views

5 39 A consumer testing agency wants to evaluate the claim made by a manufacturer...

Calculus
1.2K views

f x Calculate the limits of f x as x approaches and co Give exact...

Algebra
1.2K views

The sum of the first three terms in an arithmetic series is -6 and the...

Algebra
1.2K views

On square paper or square grid paper draw rectangles with a perimeter of 48 units...

Accounting
1.2K views

Required information [The following information applles to the questions displayed below] As of December 31,...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below] A company reports the...