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Unformatted text preview: a. Revenues Expenses = Net Income $850 Expenses = $370 Expenses = $480 b. Beginning Retained Earnings + Net Income Dividends = Ending Retained Earnings $280 + $370 Dividends = $360 Dividends = $290 c. Liabilities + Retained Earnings + Share Capital = $725 $40 + $360 + Share Capital = $725 Share Capital = $325 d. Assets = Liabilities + Retained Earnings + Share Capital Assets = $80 + $280 + $325 Assets = $685 1 MARK EACH (ANSWERS UNDERLIGNED) = 4 MARKS TOTAL...
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This note was uploaded on 11/04/2011 for the course ACTG ACTG1p11 taught by Professor Brown during the Spring '11 term at Brock University.
- Spring '11
- Shareholders Equity