If net income is $80,000, dividend is $24,000 and ending RE balance is $105,000. how much...
If net income is $80,000, dividend is $24,000 and ending RE balance is $105,000. how much is beginning RE. My teacher gave me the solutions the answer is $49, but how did they get that number?
Homework Answers
Beginning retained earnings + Net income - Dividends = Ending retained earnings
Beginning retained earnings = Ending retained earnings - Net income + Dividends
= $105,000 - $80,000 + $24,000
= $49,000
Add Answer to:
If net income is $80,000, dividend is $24,000 and ending RE
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