Question
Par Corporation ended the year with assets of $88,000, liabilities of $62,000, and common stock of $4,000. The company paid no dividends during the year
Par Corporation ended the year with assets of $88,000, liabilities of $62,000, and common stock of $4,000. The company paid no dividends during the year and had net income of $8,000. What was Par's retained earnings at the beginning of the year?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
