Answered: Assuming no other transactions occured,…

Assuming no other transactions occured, what would be the total revenues? Retained earnings as of 1/1: $168,451 Total Dividends: $15,998 Total Expenses: $72,664 Retained

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Question

Assuming no other transactions occured, what would be the total revenues?

Retained earnings as of 1/1: $168,451

Total Dividends: $15,998

Total Expenses: $72,664

Retained earnigs as of 12/31: $156,217

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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