Question
During 2022, Yee Corporation reported revenues of $327,000, wages expense of $50,000, depreciation expense of $40,000 and paid cash dividends of $65,000. Retained Earnings on
During 2022, Yee Corporation reported revenues of $327,000, wages expense of $50,000, depreciation expense of $40,000 and paid cash dividends of $65,000. Retained Earnings on January 1, 2022 was $168,000. Prepare closing entries at December 31, 2022. Calculate the balance in Retained Earnings on December 31, 2022, and identify from the given options: O a. $237,000 O b. O C. Oe. $285,250 O d. $503,000 Of. $250,000 $405,000 $103,000 ?
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Cost And Management Accounting An Introduction
Authors: Colin Drury
7th Edition
1408032139, 978-1408032138
