Question
At January 1, 2024, Crane Corporation had a credit balance of $4850000 in its retained earnings account. During the year, Crane declared and paid $270000
At January 1, 2024, Crane Corporation had a credit balance of $4850000 in its retained earnings account. During the year, Crane declared and paid $270000 in dividends and reported net income of $422000 and other comprehensive income of $746000. The December 31 balance of retained earnings is:
1. $4256000.
2. $5002000.
3. $5748000.
4. $4580000.
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Intermediate Accounting
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Volume 1, 6th Edition
1259103250, 978-1259103254, 978-0071339476
