Question
MNO Corp had beginning retained earnings of $150,000 on January 1st, 2023. During the year, the company reported net income of $100,000 and paid dividends
MNO Corp had beginning retained earnings of $150,000 on January 1st, 2023. During the year, the company reported net income of $100,000 and paid dividends of $30,000. Calculate the ending balance of retained earnings as of December 31st, 2023.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
