Retained Earnings = $86,000
Accounting Equation…Assets= Liabilities + Owners Equity
Assets (Cash, acct rec, equipment, building, land) = $421,000
Liabilities (Notes payable, accounts payable)= $260,000
Equity (capital stock) = $75,000
Liabilities + Equity= $335,000
Retained Earnings flows into equity
$421,000-$335,000= $86,000
$335,000+86,000= $421,000
So the equation balances.
House is worth 275- 195= 80k equity. Car is 12k-7500= 4.5k equity plus 3k investments plus 2700 in the bank minues 1500 credit card debit= 88,700
Answer:
cool
Explanation:
coooooooooooooooooooooooooooool
Answer:
Correct Answer:
B) Royalty Expense
Explanation:
<em>A royalty is a payment made by one party, franchisee to another that owns a particular asset, franchisor for the right to ongoing use of that asset. The expenses incurred in executing this payment is called royalty expenses.</em>