Question
XYZ had retained earnings worth $4,000,000 at the beginning of 1st January 2015. The company reported a net income of $ 1000,000. At the end
XYZ had retained earnings worth $4,000,000 at the beginning of 1st January 2015. The company reported a net income of $ 1000,000. At the end of the financial year dividends of $2 per share was declared. What will be the retained earnings at the end of the year if 500,000 shares were declared for dividends?
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
