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For the month ended January 31, 2022, Laker Bakery reported $90,000 of sales revenue and $60,000 of total expenses. The company paid a $10,000 dividend during January 2022. Assuming January 2022 was the new company's first month of operations, what was the balance of Laker Bakery's cash account at January 31, 2022

For the month ended January 31, 2022, Laker Bakery reported $90,000 of sales revenue and $60,000 of total expenses. The company paid a $10,000 dividend during January 2022. Assuming January 2022 was the new company's first month of operations, what was the balance of Laker Bakery's cash account at January 31, 2022

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 15EA: Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid...
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For the month ended January 31, 2022, Laker Bakery reported $90,000 of sales revenue and $60,000 of total expenses. The company paid a $10,000 dividend during January 2022. Assuming January 2022 was the new company's first month of operations, what was the balance of Laker Bakery's cash account at January 31, 2022?

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