Question
Falcon Attorneys reported the following information for the year ended December 31, Year 2: Revenue $12,000,000 Expenses 10,500,000 Dividends declared and paid 500,000 Retained earnings
Falcon Attorneys reported the following information for the year ended December 31, Year 2:
Revenue $12,000,000
Expenses 10,500,000
Dividends declared and paid 500,000
Retained earnings at December 31, Year 2 1,650,000
Required: Calculate the retained Earning balance as at December 31, Year 1.
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
