contestada

Golden Enterprises started the year with the following: Assets $101,000; Liabilities $31,000; Common Stock $61,000; Retained Earnings $9,000. During the year, the company earned revenue of $5,100, all of which was received in cash, and incurred expenses of $3,050, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,100 to owners. Assume no other activities occurred during the year. The amount of Golden's retained earnings at the end of the year is:

Respuesta :

Answer:

 $9,950

Explanation:

The computation of the ending balance of the retained earning is shown below:

Beginning retained earning balance          $9,000

Add: net income                                           $2,050   ($5,100 - $3,050)  

Less: Dividend paid                                     -$1,100

Ending retained earning balance                 $9,950

These items are considered and the rest items that are mentioned are not relevant. hence, ignored it

Otras preguntas