Reference no: EM133178711
Question - On 31 May 2011, Bender's total equity was $144,867. During the year to 31 May 2012, his profit was $25,764. On 31 May 2012, his equity balance was $153,153.
What were Bender's drawings for the year to 31 May 2012, if no additional capital was introduced to the business?
How much were the retained earnings at the beginning of the period (June 1, 2011) if the capital was 70,000$?
How much were the closing retained earnings (May 31, 2012) in the SOCIE if the capital was 70,000$?
How much was the profit before tax if the income tax is 20%?
How much were the total liabilities on May 31, 2011, if total assets were $331,367?
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