Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:     February 28, 2018 March 31, 2018 Cash 137,300   233,000   Accounts receivable 77,800   89,400   Supplies 6,900   5,700   Accounts payable $35,200   $38,000   Common stock 130,000   130,000   Retained earnings ?   ?

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 5MC: Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current...
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Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:

 

  February 28, 2018 March 31, 2018
Cash 137,300   233,000  
Accounts receivable 77,800   89,400  
Supplies 6,900   5,700  
Accounts payable $35,200   $38,000  
Common stock 130,000   130,000  
Retained earnings ?   ?  
Assets
Total assets
Liabilities
Stockholders' Equity
%24
Total stockholders' equity
Total liabilities and stockholders' equity
%24
%24
%24
%24
%24
Transcribed Image Text:Assets Total assets Liabilities Stockholders' Equity %24 Total stockholders' equity Total liabilities and stockholders' equity %24 %24 %24 %24 %24
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