Question
If service revenue is $260,000, total expenses are $175,000, additional capital stock issued of $13,000 and dividends declared are $4,000, what is the change in
If service revenue is $260,000, total expenses are $175,000, additional capital stock issued of $13,000 and dividends declared are $4,000, what is the change in retained earnings as a result of the closing process?
an increase of $260,000
an increase of $81,000
an increase of $4,000
an increase of $9,000
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
