Reference no: EM132689609

Question 1. At January 1, 2019, Burton Industries reported Retained Earnings of $100,000. During 2019, Burton had a net loss of $50,000 and paid $10,000 of dividends to the stockholders. At December 31, 2019, the balance in Retained Earnings is:

Question 2. At January 1, 2018, Kobe Enterprises reported accounts receivable totaling $5,000. During the month, the company had credit sales of $15,000 and collected cash on accounts of $12,000. At the end of January, the balance in accounts receivable is:

Question 3. At January 1, 2019, KA Enterprises reported an accounts payable of $15,000. During the month, KA made purchase on account from vendors totaling $20,000. At the end of January, the balance in accounts payable is $10,000. What amount did KA pay vendors during January?