Business
Business, 05.05.2020 06:10, alonzob2367

Woodward Enterprises had the following events during 2013: The business issued $34,000 of common stock to its stockholders. The business purchased land for $26,000 cash. Services were provided to customers for $30,000 cash. Services were provided to customers for $19,000 on account. The company borrowed $30,000 from the bank. Operating expenses of $26,000 were incurred and paid in cash. Salary expense of $2,200 was accrued. A dividend of $18,000 was paid to the owners of Woodward Enterprises. Assuming the company began operations during 2013, the amount of retained earnings as of December 31, 2013 would be:

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