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    Business
  3. Study Set
    Financial And Managerial Accounting Principles
  4. Exam
    Exam 1: Uses of Accounting Information and the Financial Statements
  5. Question
    Use the Following Information to Calculate At,or for the Year
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Use the Following Information to Calculate At,or for the Year

Question 74

Question 74

Essay

Use the following information to calculate at,or for the year ended,December 31,2010,(a)net income,(b)retained earnings,(c)total assets,and (d)cash.
Use the following information to calculate at,or for the year ended,December 31,2010,(a)net income,(b)retained earnings,(c)total assets,and (d)cash.

Correct Answer:

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a.$20,000 - $4,000 - $2,000 = $14,000
b....

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