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irina1246 [14]
3 years ago
13

The following information is available for the Noir Detective Agency. After closing entries are posted, what will be the balance

in the Retained earnings account
Business
1 answer:
omeli [17]3 years ago
8 0

Answer: $230,400

Explanation:

The Retained earnings account is mainly used to record how much the company retains from its past and present net incomes after paying out dividends to shareholders.

Ending Balance = Beginning balance + Net income - dividends

= 294,000 + (-27,600) - 36,000

= $230,400

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