34.Retained earnings on January 1 and December 31 are $72,000 and $69,000, respectively. During the year, net income is $100,000. How much dividends did the company declare and pay to the shareholders?
35.Given below is a listing of selected accounts before adjusting entries for Duane Corporation as of December 31.
Account Names
Account Balances
Unadjusted
Adjusted
Cash
$11,700
Supplies
3,000
Prepaid Rent
0
Salaries Payable
Unearned Revenue
Contributed capital
20,000
Retained Earnings
9,400
Revenue
45,000
Supplies Expense
Salaries Expense
24,600
Rent Expense
1,300
Complete the ‘Adjusted Account Balances’ column on the basis of the following information:
a.Unused supplies amount to $400 on December 31.
b.$300 of rent is prepaid on December 31.
c.Unpaid salaries amount to $500 on December 31.
d.$1,200 of the $45,000 service revenue is not yet earned on December 31.
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