Keria Corp

question 77

Essay

Keria Corp. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2014, accounting records. The beginning retained earnings as of January 1, 2014, was $43,100 and the owner, Keria Staple, received dividends of $14,600 during the year. Prepare the balance sheet for Keria Corp. as of December 31, 2014.

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Definitions:

Fatty Acid

Molecule that contains a hydrocarbon chain and ends with an acid group.

Amino Acid

Organic compounds that combine to form proteins, serving as the building blocks of protein synthesis and playing vital roles in processes such as neurotransmitter transport and biosynthesis.

Hemoglobin

A protein in red blood cells that carries oxygen from the lungs to the rest of the body and returns carbon dioxide from the body to the lungs.

Polypeptide Chains

Sequences of amino acids linked by peptide bonds, forming part of or the whole protein molecule.