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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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
