Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if a corporation has assets of $1,000,000, liabili

If a corporation has assets of $1,000,000, liabilities of $200,000, and retained earnings of $560.000,...

70.2K

Verified Solution

Question

Accounting

image
image
If a corporation has assets of $1,000,000, liabilities of $200,000, and retained earnings of $560.000, what is the amount of contributed capital? O $1,000,000 $240,000 O $600,000 $40,000 Question 2 2 pts If a company has $500,000 of sales revenue, pays $10,000 in dividends, and has $350,000 of expenses, how much was net income for the year? 0 $350,000 $150,000 $140.000 $850,000 Accounts Receivable had a normal beginning balance of $1,000. During the period, the company made sales on account of $800 and received cash on account of $400. What was the ending balance? O $1.400 credit O $1,400 debit O $600 debit. O $600 credit

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

Q

If you want to identify genes that change expression levels in a mouse model of liver...

Biology
Q

What are elliptic and hyperbolic geometries? Why were they developed? Provide references

Advance Math
Q

On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $45 million,...

Accounting
Q

sten What is the definition for lateral Toward or at the front of the body...

Biology
Q

The lead in pencils is a graphite composition with Young's modulus of approximately 1.0x10? N/m....

Physics
Q

RK must be shown in order to receive full credit all work and annotations Keep...

Geometry
Q

On a certain day, a cheese packaging facility packaged 480 units of mozzarella cheese. Some...

Basic Math
Q

Forrest Company manufactures phone chargers and has a policy that ending inventory should equal 10%...

Accounting
Q

Milton Corporation had 15,000 units of beginning inventory in its Cutting Department on May 1....

Accounting
Q

Required information [The following information applies to the questions displayed below.) Ravenna Company is a...

Accounting
Q

On April 18, Riley Co. made a short-term investment in 300 common shares of XLT...

Accounting
Q

%E9-23 (similar to) Question Help uses ClearView Corporation manufactures and sells 50-inch television sets data...

Accounting