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LiChan LiChan
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8 years ago
The following information was provided for the year ended March 31, 2007:
   Balance, April 1, 2006 common stock   $ 40,000
   Balance, April 1, 2006 paid-in capital   45,000
   Balance, April 1, 2006 retained earnings   136,000
   Sale of 1,000 shares common stock, par value $2   100,000
   Net loss   17,000
   Dividends declared   3,000
What is the balance as of March 31, 2007, for retained earnings on the statement of stockholders' equity?
A) $116,000
B) $119,000
C) $153,000
D) $150,000
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
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mourningbirdmourningbird
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LiChan Author
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#2
8 years ago
Was looking for this exact answer, thanks
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#3
8 years ago
Excellent feedback, thanks
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