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From the following data, calculate the retained earnings balance as of December 31, 2010. Retained earnings, December 31, 2011..................................$490,000 Net decrease in total assets during
From the following data, calculate the retained earnings balance as of December 31, 2010. Retained earnings, December 31, 2011..................................$490,000 Net decrease in total assets during 2011.................................$74,800 Net increase in accounts receiveable in 2011...........................$17,200 Dividends declared and paid in 2011.....................................$67,200 Proceeds from issuance of bonds during 2011...........................$176,800 Net loss for the year ended December 31,2011.........................$46,000 What is beginning retained earnings?
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