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a company reported the following information for the year ended december 31 2019, beg retained earnings...

a company reported the following information for the year ended december 31 2019,

beg retained earnings 50,000
for 2020 they reported
revenue 140,000
expenses 110,000
dividends 1000

what was the retained earnings balance at december 31 2020
business   accounting   
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Answer #1
Particulars Amount
Beginning balance of Retained Earning        50,000.00
Add Revenue     140,000.00
Less Expenses (110,000.00)
Less Dividend        (1,000.00)
Retained Earning as on 31st December 2020        79,000.00
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