The Balance Sheet of the Algonquin Company Reported Assets of $50,000,liabilities

question 40

Multiple Choice

The balance sheet of the Algonquin Company reported assets of $50,000,liabilities of $22,000 and common stock of $15,000.Based on this information only,the amount or balance for retained earnings must be

• A)$7,000
• B)$57,000
• C)$13,000
• D)$87,000

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Definitions:

Equity

The concept of fairness or justice in the way people are treated and decisions are made.

Inputs And Outcomes

The resources, efforts, or information entered into a system or process and the results or effects produced.

Procedural Justice Model

A concept in organizational behavior focusing on the fairness and transparency of the processes that lead to outcomes or decisions.

Informal Job Behaviors

Actions or conducts by employees that are not part of their formal job responsibilities, often personal or unofficial in nature.