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jek_recluse [69]
3 years ago
7

The Retained earnings account has a credit balance of $23,800 before closing entries are made. Of total revenues for the period

are $75,200, total expenses are $55,000, and dividends are $12,600, what is the ending balance in the Retained earnings account after all closing entries are made
Business
1 answer:
skelet666 [1.2K]3 years ago
4 0

Answer:

The ending balance in the retained earnings account is $31400.

Explanation:

The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year.

The addition to retained earnings will be the Net income less dividends.

The net income for the year was = 75200 - 55000 = $20200

Addition to Retained earnings = 20200 - 12600   = $7600

Closing balance of retained earnings = 23800 + 7600  = $31400

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Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting informa
defon

Answer:

$28,675 = direct materials used

Explanation:

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2 years ago
Maria is a recruiter with a bachelor's degree in business administration. She is well respected among her peers for her professi
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Answer:

B. Is perceived as less credible because she is an HR specialist.

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The aggregate demand curve would shift to the right as a result of A. tax increases. B. a drop in the price level. C. a drop in
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