Benson Inc. had a credit balance in Retained Earnings on December 31, 2023, of $48,000. During 2024,
Question:
Benson Inc. had a credit balance in Retained Earnings on December 31, 2023, of $48,000. During 2024, Benson recorded profit of $146,000 and declared and paid dividends of $47,000. During 2025, the company recorded a loss of $15,000. No dividends were declared or paid in 2025. Calculate the balance in Retained Earnings at December 31, 2025.
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48000 146000 47000 15000 1320...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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