Question
Company XYZ has been around for five years. During this time, it reported the following net income: Year 1: RO 10,000 Year 2: RO 5,000
Company XYZ has been around for five years. During this time, it reported the following net income:
Year 1: RO 10,000
Year 2: RO 5,000
Year 3: RO (5,000)
Year 4: RO 25,000
Year 5: RO 30,000
Company XYZ paid no dividends till year 3 but for year 4 & 5 it paid dividends of RO 10,000 and RO 15,000. You are required to calculate the retained earning balance for 5 years?
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Mark S. Bettner, Susan F. Haka, Sue Haka
11th Edition
0072516682, 978-0072516685
