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umka21 [38]
4 years ago
13

Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?

Business
1 answer:
Nimfa-mama [501]4 years ago
6 0
<span>BASIC FORMULAE IS ASSETS -(LIABILITIES +COMMON STOCK)=RETAINED EARNINGS SO, BY SUBSTITUTION 40000-(11000+COMMON STOCK)=25000 THUS COMMON STOCK 4000</span>
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Part I :

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                 (To record the services provided but cash is not yet collected)

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6 0
3 years ago
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