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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Side 2 is adjacent to angle X 3 1 X

Geometry
Q

12 By which reason can it be proven that A AAS

Geometry
Q

1) As you plan for a new corporate project, you find that during the first year...

Finance
Q

only for field engineers please: why would you choose to this segment \"measurement while drilling\"? why would...

Mechanical Engineering
Q

Consider a function f(x) which satisfies the following properties: 1. f(x+y)=f(x) * f(y) 2. f(0) does not equal...

Advance Math
Q

Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item...

Accounting
Q

The smaller the retention factor the more soluble an analyte is,TrueFalse

Biology
Q

or wages less than the maximum taxable wage base Social Security contributions including those for...

Calculus
Q

On January 1, 2019, ABC Company borrowed $100,e08 from the bank. The loan...

Accounting
Q

Exercise 8.9 Estimating Inventory by the Gross Profit Method (LO8-6) When Mary Potts arrived at...

Accounting
Q

An investment of $12,000 is growing at 4% compounded semi-annually. a. Calculate the future value...

Accounting
Q

Please help me create this Excel contingencies project using the data AM92 attached below: AM92:...

Finance