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26 March, 05:29

Milton Corp. has beginning retained earnings of $800. During the year Milton had $2,000 of revenues and $900 in expenses. Milton paid a dividend of $100. What is retained earnings at year-end?

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  1. 26 March, 07:50
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    The retained earnings are $1800.

    Explanation:

    The beginning balance = $800.

    Revenues = $2000.

    Expenses = $900.

    Paid dividend = $100.

    Therefore the retained earning at the end of the year should be:

    Beginning balance + Revenues - Expenses - Paid dividend

    Retained earnings = 800+2000-900-100 = $1800.
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