omework: Chapter 1 core: 0.3 of 1 pt E1-24 (similar to) The records of Morin Com

Question

omework: Chapter 1 core: 0.3 of 1 pt E1-24 (similar to) The records of Morin Company show the following at December 31, 2018 11of21 (21 complete) HW Score: 91.3996, 19.19 of 21 pt Question Help * (Click teron to view the data.) Read the requirements Requirement 1. Compute the missing amount for Morin Company. You will need to deermine Retained Eamings, December 31,2018, and total stockholders equity, December 31,2018 Begin by determining total stockholdens' equity Rework the accounting equation and then solve for stockholders' equity Cequity") at the beginning and end of the period. Assets Beginning 6,000 Ending 06000 Idenify the formula and then sove for the relained earnings balance at the end of the period Equity S19.000 S21,000 37.00 Data Table 45,000 Assets & Liabilities Equity Common Stock Ending retained eamings 11,000 16.000 s see… Dividends 37,000 Revenues Expensers Ending: Retained Eamings, January 1, Assets 66.000 2018 8000 Print Done Choose from any list or enter any number in the input fields and then cick Check Answer

Explanation / Answer

Assets   - Liabilities = Equity Beginning 56000 37000 19000 Ending 66000 45000 21000 Ending Retained earnings: Ending Equity - Common Stock = Ending Retained earnings 21000   - 11000     = 10000

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