Question
Asked Sep 8, 2019
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on december 31, the milers company had $800,000 in total assets and owed $300,000 to creditors. If the corporations common stock amounted to $250,000, what amount of retained earnings should appear on the companys december 31 balance sheet?

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Expert Answer

Step 1

Calculate the stockholde...

Calculate the stockholder's equity
Stockholder's Equity = Assets - Liabilities
- S800,000-S300,000
=S500, 000
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Calculate the stockholder's equity Stockholder's Equity = Assets - Liabilities - S800,000-S300,000 =S500, 000

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