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Unformatted text preview: 6,000 Supplies 3,000 Prepaid Rent 1,800 Dividend 2,000 Advertising Expense 1,000 Supplies Expense 2,200 Required: Use this information to answer the following: 1. Determine Total Assets as of December 31, 2010: $__________________ 2. Determine Total Liabilities as of Dec. 31, 2010: $__________________ 3. Determine Retained Earnings as of December 31, 2010: $__________________ Questions 4-5 4. Which of the following transactions would decrease accounts payable and cash by $1,000? 5. What would be the financial statement impact of a company paying a dividend to the owners (how would it affect assets, liabilities and stockholders' equity)?...
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This note was uploaded on 02/28/2011 for the course ANTH 202 taught by Professor Staff during the Fall '08 term at Texas A&M.
- Fall '08