The Andrews company currently has the following balances in their equity accounts: Common Stock $12,190...
| The Andrews
company currently has the following balances in their equity
accounts: Common Stock $12,190 Retained earnings $43,385 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year? |
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| Select: 1 | ||||||||
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Homework Answers
Old retained earning = 43385
This year retained earning = Total profit - divident
= 46300 - 16000
=30300
Retained earning at end = Previous retained earning + Current year retained earning
= 30300 + 43385
= B. 73,685
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The Andrews
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