Question
A company has a net income of $50,000 for the year ended December 31, 2019. During 2019, it declared and paid dividends of $12,000. The
A company has a net income of $50,000 for the year ended December 31, 2019. During 2019, it declared and paid dividends of $12,000. The ending balance in retained earnings at December 31, 2019 is $200,000. The balance in retained earnings at January 1, 2019 was:
A. $38,000
B. $162,000
C. $238,000
D. Cannot be determined with the information provided
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Performance Auditing Of Public Sector Property Contracts
Authors: Lori Keating
1st Edition
0566089998, 978-0566089992
