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29 December, 23:19

Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. During 2019, the company had revenues of $410,000 and balance sheet as of December 31, 2019 will be: expenses of $355,000, and the company declared and paid dividends of $12,000. Retained earnings on the Multiple Choice a. $265,000 b. $43,000 c. $308,000

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  1. 30 December, 00:35
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    Retained earnings on the December 31, 2019: $253,000

    Explanation:

    Ending balance in retained earnings is calculated by using following formula:

    Ending balance in retained earnings = Beginning balance in retained earnings + Net income - Cash dividends - Stock dividends

    Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. Beginning balance in retained earnings at January 01, 2019 is $210,000

    Net income = Revenues - Expenses = $410,000 - $355,000 = $55,000

    Ending balance in retained earnings = $210,000 + $55,000 - $12,000 = $253,000
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Home » Business » Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. During 2019, the company had revenues of $410,000 and balance sheet as of December 31, 2019 will be: expenses of $355,000, and the company declared and paid dividends of $12,000.
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