Use the Following Information to Calculate for the Year Ended

question 187

Essay

Use the following information to calculate for the year ended December 31, 2014 (a) net income (net loss), (b) ending retained earnings, and (c) total assets. LO: 4,5, Bloom: AP, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: Problem Solving, IMA: Reporting
Solution 178 (5 min.)
(a) $6,000 (b) $10,000 (c) $32,000
-Listed below in alphabetical order are the balance sheet items of Nolan Company at December 31, 2014. Prepare a balance sheet and include a complete heading.

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