For the current year,Vidalia Company reported revenues of $250,000 and expenses of $225,000. At the begining of the year, its retained earings had a balance of $95,000. During the year, Vidalia paid $11,000 dividends to shareholders. Its contributed capital was $56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalia’s assets total $237,500 on December 31 of the current year.what are Vidalia’s total liabilities on December 31 of the current year?
For the current year,Vidalia Company reported revenues of $250,000 and expenses of $225,000. At the begining of the year, its retained earings had a balance of $95,000. During the year, Vidalia paid $11,000 dividends to shareholders. Its contributed capital was $56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalia’s assets total $237,500 on December 31 of the current year.what are Vidalia’s total liabilities on December 31 of the current year?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 9RE: For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the...
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For the current year,Vidalia Company reported revenues of $250,000 and expenses of $225,000. At the begining of the year, its retained earings had a balance of $95,000. During the year, Vidalia paid $11,000 dividends to shareholders. Its contributed capital was $56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalia’s assets total $237,500 on December 31 of the current year.what are Vidalia’s total liabilities on December 31 of the current year?
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