Question

accounting

Answer 1

Do you need help with a problem?

Answer 2

yes its an intro to accounting problem

Answer 3

Accounts payable $ 9
Service revenue 38
Cash 25
Equipment 110
Common shares 200
Retained earnings (ending balance) ??
Dividends 15
Accounts receivable 4
Land 100
Office supplies 5
Utilities expense 2
Salary expense 18
Cash receipts: Cash payments:
Collections from customers 30 Acquisition of land 50
Sale of equipment 15 Issuance of shares to owners 90
Dividends 15
To suppliers 5

Answer 4

7. Net income is:
A. $18.
B. $36.
C. $120.
D. $20.