Ask Question
27 August, 06:28

Oriole Company compiled the following financial information as of December 31, 2022: Service revenue $849000 Common stock 196000 Equipment 254000 Operating expenses 734000 Cash 216000 Dividends 57000 Supplies 34000 Accounts payable 115000 Accounts receivable 87000 Retained earnings, 1/1/22 432000 Oriole's retained earnings on December 31, 2022 are:

+3
Answers (1)
  1. 27 August, 06:35
    0
    Oriole's retained earnings on December is $337,000

    Explanation:

    December 31, 2022:

    Service revenue $849000

    Operating expenses $734000

    Asset

    Equipment $254000

    Cash $216000

    Accounts receivable $87000

    Supplies $34000

    Total Assets $591,000

    Equity and Liabilities

    Common stock $196000

    Retained Earning $337,000

    Less: Dividends $57000

    Accounts payable $115000

    Total Equity & Liabilities $591,000

    Oriole's retained earnings on December 31, 2022 = $591,000 - 115,000 - 196,000 + 57,000 = $337,000

    Retained earnings, 1/1/22 $432000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Oriole Company compiled the following financial information as of December 31, 2022: Service revenue $849000 Common stock 196000 Equipment ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers