Ask Question
29 February, 07:53

At the beginning of 2010, Stevens Co. had a balance of $100,000 in Retained Earnings. During 2010 the company paid a dividend of $1,000 and had a net income of $12,000.

What should be the balance in Retained Earnings on 12/31/10?

+1
Answers (1)
  1. 29 February, 11:08
    0
    Balance in retained earning will be $111000

    Explanation:

    We have given at the beginning retained earning is $100000

    Dividend paid by the company is $1000

    Net income = $12000

    We have to find the balance in retained earning at the end

    Balance in retained earning at the end will be equal to

    Retained earning at the end = Beginning retained earning + net income - dividend = $10000 + $12000 - $1000 = $111000

    So balance in retained earning will be $111000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At the beginning of 2010, Stevens Co. had a balance of $100,000 in Retained Earnings. During 2010 the company paid a dividend of $1,000 and ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers