Question
Hadco Inc. reported retained earnings of $354,500 on December 31, 2014. During the year, Hadco recorded a net loss of $90,050 and paid dividends of
Hadco Inc. reported retained earnings of $354,500 on December 31, 2014. During the year, Hadco recorded a net loss of $90,050 and paid dividends of $42,500. The company had no other transactions that affected retained earnings.
What must retained earnings have been on December 31, 2013?
Group of answer choices
$275,758
$487,050
$378,842
$306,950
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Financial Accounting Cases
Authors: Camillo Lento, Jo-Anne Ryan
3rd Canadian Edition
1119594642, 978-1119594642
