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charle [14.2K]
3 years ago
9

accountant for Huckleberry... The accountant for Huckleberry Company is preparing the company's statement of cash flows for the

fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 160,000 Cash dividends declared for the year 49,600 Net income for the year 96,500 What is the ending balance for retained earnings
Business
1 answer:
Vesnalui [34]3 years ago
4 0

Answer:

$206,900

Explanation:

According to the given situation, the computation of ending balance for retained earnings is shown below:-

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

= $160,000 + $96,500 - $49,600)

= $206,900

Therefore for computing the ending retained earnings we simply applied the above formula.

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