10. From the following inform ation, prepare a retained earmings statement for TAY Corporation for the year ended December 31, 20X0. Net income for the year Dividends declared during the year Dividends pa id during the year Retained Earnings, January 1, 20X0 $30,000 12,000 6,000 60,000

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 17PB: Using the following Company X information, prepare a Retained Earnings Statement: Retained earnings...
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10. From the following inform ation, prepare a retained earnings statement for TAY
Corporation for the year ended December 31, 20X0.
Net income for the year ....
Dividends declared during the year
Dividends pa id during the year
Retained Earnings, January 1, 20X0
$30,000
12,000
6,000
60,000
TAY Corporation
Retained Earnings Statement
For Year Ended December 31, 20XO
Retained earnings, January 1, 20XO
Add: Net income
$60,000
_30,000
$90,000
12,000
$78,000
Deduct: Dividends declared ...
Re tained earnings, December 31, 20XO
Transcribed Image Text:10. From the following inform ation, prepare a retained earnings statement for TAY Corporation for the year ended December 31, 20X0. Net income for the year .... Dividends declared during the year Dividends pa id during the year Retained Earnings, January 1, 20X0 $30,000 12,000 6,000 60,000 TAY Corporation Retained Earnings Statement For Year Ended December 31, 20XO Retained earnings, January 1, 20XO Add: Net income $60,000 _30,000 $90,000 12,000 $78,000 Deduct: Dividends declared ... Re tained earnings, December 31, 20XO
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