A company had a beginning balance in retained earnings of $430,000. It had net income of...
A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of $56,250 in the current period. The ending balance in retained earnings equals:
$426,250.
$433,750.
$490,000.
$546,250
$116,250
Homework Answers
ending retained earnings =Beginning retained earnings +Net income-Dividends paid
=430,000+60,000-56,250
which is equal to
=$433750
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