Benson Inc. had a credit balance in Retained Earnings on December 31, 2020, of $48,000. During 2021,
Question:
Benson Inc. had a credit balance in Retained Earnings on December 31, 2020, of $48,000. During 2021, Benson recorded profit of $146,000 and declared and paid dividends of $47,000. During 2022, the company recorded a loss of $15,000. No dividends were declared or paid in 2022. Calculate the balance in Retained Earnings at December 31, 2022.
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48000 146000 47000 15000 13200...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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