Homework Answers
| True as shown below | |
| Please give thumbs up if you are satisfied | |
| Statement showing Computations | |
| Particulars | Amount |
| Revenues | 230,000.00 |
| Less expenses | (130,000.00) |
| Income | 100,000.00 |
| Less Dividend | (8,000.00) |
| Addition to retained earnings | 92,000.00 |
| Ending balance in Retained earnings | 92,000.00 |
| Thus bginning balance in Retained earnings would be 0 : | |
| Beginning Balancein RE | - |
| Add Addition to retained earnings | 92,000.00 |
| Ending balance in Retained earnings | 92,000.00 |
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