Question
Lucky Worldwide Travel Services, Inc. had Retained Earnings on November 30 of $2,442,871. Net Income for the month of December was $219,137. Also, in December,
Lucky Worldwide Travel Services, Inc. had Retained Earnings on November 30 of $2,442,871. Net Income for the month of December was $219,137. Also, in December, the following additional transactions took place:
Dividends were paid out to shareholders in the amount of $108,014.
10,000 new shares of common stock were sold at $18 per share.
Principal on the auto loan was paid in the amount of $4,500
What was Lucky's Ending Retained Earnings Balance on December 31?
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
5th edition
134727797, 9780134728643 , 978-0134727790
