Chadwick Associates retained $850,000 of net income in the business in Year 1.If $75,000 was appropriated to satisfy the restrictive covenant of a loan agreement,what are the effects of the appropriation on the elements of the financial statements?
Definitions:
Molecular Formula
A representation of the number and type of atoms in a molecule, but not the arrangement or bonds between them.
Lewis Structure
A Lewis structure is a diagrammatic method for representing the valence electrons of an atom, molecule, or ion, showing how electrons are arranged and bonds formed.
Trimethylamine
A colorless, pungent-smelling nitrogenous organic compound, found among the degradation products of proteins and used in a variety of applications.
Condensed Structural Formula
A simplified way of writing the molecular structure of a compound, showing how atoms are bonded without drawing all bonds explicitly.
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