At the end of the third year of operation, Alger 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. $10,000 (Cr)
e. $20,000 (Cr)
C
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Which of the following is an example of a limited-service retailer?
A) Customers at TAB pick out the products they want and pay at the checkout counter. B) Salespeople at Eli are always on hand to offer shoppers advice and assistance in choosing products. C) Mina's allows customers to check out their own purchases in order to reduce the staff count. D) CLO's offers a number of merchandise-return privileges, customers need information and assistance while shopping. E) Alison's stocks a number of specialty products and the store's salespeople generally help shoppers with all their needs.
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Indicate whether the statement is true or false
Wrench Repairs acquires equipment under a noncancelable lease at an annual rental of $45,000, payable in advance for five years. After five years, there is a bargain purchase option of $75,000 . The appropriate interest rate is 1 . percent. What is the total present value of the lease and the first year's interest expense?
a. $224,234 and $26,908 b. $224,234 and $21,508 c. $204,771 and $21,508 d. $204,771 and $19,173
Discuss ways to use your voice effectively during a presentation
What will be an ideal response?