A hospitality operation began with retained earnings of $126,000. During the year, cash dividends of $55,200 were

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A hospitality operation began with retained earnings of $126,000. During the year, cash dividends of $55,200 were paid to the owners. Net income for the year was $228,000. Answer the following:

a. What is the ending balance of retained earnings?

b. What would be the ending balance of retained earnings if a net loss of $22,200 had been reported rather than the net income?

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Hospitality Management Accounting

ISBN: 9780471092223

8th Edition

Authors: Martin G Jagels, Michael M Coltman

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Question Posted: Jun 28, 2024 01:10 AM

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A hospitality operation began with retained earnings of $126,000. During the year, cash dividends of $55,200 were

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Hospitality Management Accounting

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