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Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?

Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?
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Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?

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User JWL
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1 Answer

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BASIC FORMULAE IS ASSETS -(LIABILITIES +COMMON STOCK)=RETAINED EARNINGS SO, BY SUBSTITUTION 40000-(11000+COMMON STOCK)=25000 THUS COMMON STOCK 4000
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User SNag
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