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kati45 [8]
3 years ago
15

Lynnwood, Inc. had a retained earnings balance of $12,000 on April 1, and the company had the following transactions during Apri

l. Issued common stock for cash, $5,000. Provided services to customers on account, $2,000. Provided services to customers in exchange for cash, $1900. Purchased equipment and paid cash, $4,300. Paid April rent, $800. Paid employees' salaries for April, $700. What was Lynnwood, Inc.'s retained earnings balance at the end of April
Business
1 answer:
SIZIF [17.4K]3 years ago
8 0

Answer:

$14,400

Explanation:

Calculation to determine What was Lynnwood, Inc.'s retained earnings balance at the end of April

LYNNWOOD, Inc.'s retained earnings balance at the end of April

Retained earning balance , April 1 $12,000

Add Service to customer $2,000

Add Service to customer $1,900

Less Rent ($800)

Less salaries ($700)

Retained earning April 30th $14,400

Therefore Lynnwood, Inc.'s retained earnings balance at the end of April is $14,400

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The solution is in tabular form which is attached with this answer.

What is Standard Cost ?

A standard cost is described as a predetermined value, an estimated future cost, an expected cost, a budgeted unit value, a forecast cost, or as the "should be" cost. trendy expenses are frequently an critical part of a manufacturer's annual profit plan and operating budgets.

when standard prices are used in a manufacturing setting, a product's standard cost for a future accounting period will consist of the following:

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Learn more about Standard cost brainly.com/question/4557688

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