Based on the following data and assuming that the common stock account balance is $63000, what is the balance in retained earnings?Accounts payable$88000Accounts receivable51000Cash87000Inventory155000Buildings166000Bonds payable517000Supplies10300Notes payable66000Equipment351000 $149300$240300$86300$174300

Given data is: Common Stock = $63,000 Accounts payable $88000 Accounts receivable 51000 Cash…

Answered: what is the balance in retained…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Based on the following data and assuming that the common stock account balance is $63000, what is the balance in retained earnings?

Accounts payable	$88000
Accounts receivable	51000
Cash	87000
Inventory	155000
Buildings	166000
Bonds payable	517000
Supplies	10300
Notes payable	66000
Equipment	351000

$149300

$240300

$86300

$174300

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