Use the Following Information as of December 31,2011 to Calculate

question 17

Essay

Use the following information as of December 31,2011 to calculate the amounts of cash and retained earnings.The company's total assets are $36,000.This company doesn't have other accounts.
$$\begin{array} { l r } \text { Accounts Payable } & \$ 7,000 \\\text { Accounts Receivable } & 8,000 \\\text { Supplies } & 1,000 \\\text { Furniture and Equipment } & 22,000 \\\text { Contributed Capital } & 10,000 \\\text { Cash } & ? \\\text { Retained Earnings } & ?\end{array}$$

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Definitions:

Semistarvation Diet

A semistarvation diet is a restrictive dieting plan that significantly reduces calorie intake without complete fasting, often used in research to study the effects of malnutrition.

Apathetic

Showing or feeling no interest, enthusiasm, or concern.

Activated Motives

Describes desires or drives that have been triggered and are influencing behavior.

Basal Metabolic

The speed with which the body expends energy to support essential activities like breathing and maintaining body temperature when not active.