A company issues shares to investors for \$10,000 cash. Which accounts are affected?

Which of the following best describes a transaction in financial accounting?

Which of the following is true about retained earnings?

A company has a beginning balance in retained earnings of \$30,000. It reports net income of \$10,000 and pays dividends of \$3,000. What is the ending balance in retained earnings?

A company has a beginning balance in accounts payable of \$4,000. It makes purchases of \$6,000 and pays \$3,000 to suppliers. What is the ending balance in accounts payable?

A company has a beginning balance in accounts receivable of \$6,000, makes \$9,000 in credit sales, and has an ending balance of \$7,000. How much cash was collected from customers?

How does a \$45,000 cash contribution from an owner affect the company's financial position?

If an owner contributes \$10,000 in cash to a business, how will this transaction affect the company's accounts?

What is the primary purpose of a trial balance?

A company has a balance of \$10,000 in its Equipment account and \$4,000 in its Notes Payable account. What are the expected balances for these accounts?

Which of the following is an example of a long-term liability?

A company has current assets totaling \$150,000 and long-term assets totaling \$350,000. What is the total asset value on the classified balance sheet?

What is the primary purpose of a classified balance sheet?

How does the absence of marketable securities affect the presentation of a classified balance sheet?

Where do marketable securities typically rank in terms of liquidity among current assets?