Question 39 As of December 31,2022, Indiana Company had: total cash...

80.2K

Verified Solution

Question

Accounting

Question 39
As of December 31,2022, Indiana Company had:
total cash of $155,000,
notes payable of $85,500,
common stock of $52,300, and
retained earnings of (?).
During 2023, Indiana Company:
earned $35,000 of revenue,
incurred $19,500 in expenses, and
declared and paid a $2,900 cash dividend to the stockholders.
What was retained earnings at the end of 2023?
$64,900
$29,800
$12,600
$82,100
image

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