76. If a corporation has assets of $200,000, liabilities of $30,000, and retained earnings of $100,000, what is the amount of capital stock? A. $30,000 B. $0 C. $70,000 D. $130,000 77. During the month, Meridian Company had the following cash transactions: Cash collected from customers $12,500 Cash received from a loan 8,000 Cash paid for wages payable (5,750) Cash paid for the purchase of a building (15,000) Cash received for the issuance of new shares of stock 2,600 Cash received from sale of land 6,400 Cash paid for rent (2,500) Cash paid for dividends (1,500) Given the above information, compute cash flow from operating activities. A. $4,250 B. $20,750 C. $15,750 D. $9,250 78. The following information was from the records of Tellers Corporation for the year ended December 31, 2009: Advertising expense $20,625 Income tax expense 13,095 Accounts payable 13,450 Dividends paid 14,125 Retained earnings (12/1/09) 57,860 Consulting fees revenue 93,550 Rent expense 11,728 Supplies expense 16,917 Given the above information, retained earnings on December 31, 2008 was A. $45,110 B. $40,800 C. $31,185 D. $57,860
76. If a corporation has assets of $200,000, liabilities of $30,000, and retained earnings of $100,000, what is the amount of capital stock? A. $30,000 B. $0 C. $70,000 D. $130,000 77. During the month, Meridian Company had the following cash transactions: Cash collected from customers $12,500 Cash received from a loan 8,000 Cash paid for wages payable (5,750) Cash paid for the purchase of a building (15,000) Cash received for the issuance of new shares of stock 2,600 Cash received from sale of land 6,400 Cash paid for rent (2,500) Cash paid for dividends (1,500) Given the above information, compute cash flow from operating activities. A. $4,250 B. $20,750 C. $15,750 D. $9,250 78. The following information was from the records of Tellers Corporation for the year ended December 31, 2009: Advertising expense $20,625 Income tax expense 13,095 Accounts payable 13,450 Dividends paid 14,125 Retained earnings (12/1/09) 57,860 Consulting fees revenue 93,550 Rent expense 11,728 Supplies expense 16,917 Given the above information, retained earnings on December 31, 2008 was A. $45,110 B. $40,800 C. $31,185 D. $57,860
Test-Bank-Accounting-10th-Edition-Albrecht.docx