Calculate for the Beginning Retained Earning

User Generated

puhxf

Business Finance

Description

At the end of the year, retained earnings totaled $1,700. During the year, net income was $250, and dividends of $120 were declared and paid. Retained earnings at the beginning of the year totaled

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Ending retained earnings =  Beginning retained earnings + Net income - dividends

1700 = Beginning retained earnings + 250 - 120

Beginning retained earnings = 1700-250+120

Beginning retained earnings = 1570

 Kindly Bested my answer.


Anonymous
I use Studypool every time I need help studying, and it never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags