The change in retained earnings from the beginning of the year to the end of the year
Question:
The change in retained earnings from the beginning of the year to the end of the year is the result of net earnings minus dividends for the year. These changes are part of the information presented on the statement of changes in equity.
Required
Calculate the missing amounts in the reconciliation of retained earnings in each of the following independent situations:
Transcribed Image Text:
B D Retained earnings, Dec. 31, 2019 Net earnings (deficit) Dividends declared and paid Retained earnings, Dec. 31, 2020 (1) 30,000 5,000 $540,000 190,000 340,000 (4) $350,000 400,000 (3) 600,000 $2,400,000 (2) 200,000 1,300,000 95,000
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1 95000 30000 5000 70000 2 1300000 2400000 200000 900000 3 400000 3500...View the full answer
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Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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