At the end of the third year of operation, Forgione Corporation has total assets equal to $100,000, liabilities totaling $90,000, and contributed capital of $30,000 . What is the balance in retained earnings?
a. $40,000 (Dr)
b. $40,000 (Cr)
c. $20,000 (Dr)
d. $20,000 (Cr)
e. $10,000 (Cr)
C
You might also like to view...
Victoria is a budget analyst at Young Industries. She used the least squares regression method to separate the plant's monthly utilities cost into its fixed and variable components. The results were as follows: Y = 3,250 + .054 X X = the number of units produced R2 = .892 How should Victoria interpret the R2 of .892?
a. The equation is a better predictor of fixed costs than of variable costs 89.2% of the time. b. The equation will accurately predict utility costs 89.2% of the time. c. Fixed costs make up 89.2% of the total semi-variable cost in any given month. d. The number of units produced explains 89.2% of the variation in the plant utilities cost.
Mary creates a t-shirt design that expresses her support for a presidential candidate and distributes t-shirts imprinted with the design to her friends. The t-shirts represent A) ?unprotected speech
B) ?controlled speech. C) ?symbolic speech. D) ?illegal speech.
According to the UCC, one open term will cause a sales con-tract to fail for indefiniteness
Indicate whether the statement is true or false
Gracie wants to buy a new couch, but there is only one place in her town that sells them, and she lives in an isolated area. Gracie most likely feels her consumer right to ____ has been violated.
A. choose B. be heard C. safety D. recourse E. be informed