Problemthe year-end financial statements of greenway, Ask an Expert

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Problem:

The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,000; Liabilities = ?; Common Stock = $5,300; Revenue = $11,600; Dividends = $900; Beginning Retained Earnings = $3,900; Ending Retained Earnings = $7,300.

Required:

The amount of liabilities reported on the end-of-period balance sheet was

A. $11,200.
B. $10,400.
C. $13,800.
D. $9,200.

Note: Please show how to work it out.

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Category:- Basic Finance
Reference No.:- M91163676

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