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On January 1, Payson Inc. had a retained earnings balance of $46,000. During the year, Payson reported net income of $32,600 and paid cash
On January 1, Payson Inc. had a retained earnings balance of $46,000. During the year, Payson reported net income of $32,600 and paid cash dividends of $19,600. Calculate the retained earnings balance at its December 31 year-end. Ending retained earnings $
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
24th edition
1259916960, 978-1259916960
