Spahr, Inc. had beginning retained earnings of $ 125 comma 000 on January 1, 2018. During the year, Spahr declared and paid $

Question

3 years ago

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Spahr, Inc. had beginning retained earnings of $ 125 comma 000 on January 1, 2018. During the year, Spahr declared and paid $

65 comma 000 of cash dividends and earned $ 90 comma 000 of net income. Prepare a statement of retained earnings for Spahr, Inc. for the year ending December 31, 2018.

Business

1 answer:

ruslelena [56] · Answer 1 · 2022-01-30T14:39:26+03:00

Answer:

Explanation:

Preparation of the retained statement of earnings for the year ended 31 December 2018 is discussed below:

Spahr, Inc.

Retained Earning statement

For the year ended December 31, 2018

Beginning retained earning balance $125,000

Add: Net income earned $90,000

Less: Cash Dividend paid -$65,000

Ending retained earning balance $150,000

Spahr​, Inc. had beginning retained earnings of $ 125 comma 000 on January ​1, 2018. During the​ year, Spahr declared and paid $

Spahr, Inc. had beginning retained earnings of $ 125 comma 000 on January 1, 2018. During the year, Spahr declared and paid $