In its first year of operations, Jones Journals, Inc recorded net income in the amount of $ 470,000 Jones Journals also declared and paid a $ 25,000 dividend at year end on December 31 What is the balance in Jones retained earnings account after it records the dividend ...

Retained earnings Beginning balance ...

In its first year of operations, Jones Journals, Inc. recorded net income in the amount of $

Question:

In its first year of operations, Jones Journals, Inc. recorded net income in the amount of $ 470,000. Jones Journals also declared and paid a $ 25,000 at year- end on December 31. What is the balance in Jones’ retained earnings account after it records the Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...