Question
Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $205,000, expenses of $113,700, and the company paid $26,000 cash in dividends to
Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $205,000, expenses of $113,700, and the company paid $26,000 cash in dividends to the owner (sole stockholder). The retained earnings account before closing had a balance of $317,000. The ending retained earnings balance after closing is:
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Canadian Tax Principles
Authors: Clarence Byrd, Ida Chen
2006-2007 Edition
0132325314, 978-0132325318
