Question
The following information shows ABC co. accounting records: Retained earnings, 1/1/2020 $50,000 Advertising expense 1,500 utilities expense 2,000 Insurance expense 1,200 selling expense 3,500 salary
The following information shows ABC co. accounting records:
Retained earnings, 1/1/2020 $50,000
Advertising expense 1,500
utilities expense 2,000
Insurance expense 1,200
selling expense 3,500
salary expense 12,000
Sales revenue 95,000
Dividend 4,800
Investment 15,000
What is the ending balance of retained earnings for the year of 2020?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
