Time remaining:
Calculate for the Beginning Retained Earning

Accounting
Tutor: None Selected Time limit: 1 Day

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

Sep 7th, 2014

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.

Sep 7th, 2014

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Sep 7th, 2014
...
Sep 7th, 2014
Dec 7th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer