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Warshaw Company started the year with retained earnings of $120,000. During the year, Warshaw earned revenues of $80,000 and incurred expenses of $50,000. Dividends declared
Warshaw Company started the year with retained earnings of $120,000. | ||||||||
During the year, Warshaw earned revenues of $80,000 and incurred expenses of | ||||||||
$50,000. | Dividends declared during the year amounted to $10,000. | |||||||
Prepare a Retained Earnings Statement. | ||||||||
Beginning Retained Earnings | 0 | |||||||
+ | Net Income (Loss) | 0 | ||||||
= | Subtotal | 0 | ||||||
- | Dividends Declared | 0 | ||||||
= | Ending Retained Earnings | 0 |
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