Parrish 1-3 #1
Please show me how to find the ending balance of Retained Earnings. Please use the equation and not a diagram to show and explain.
Revenue $8000
Dividends declared $1000
RE 1/1 $5000
RE 12/31 $ UNKOWN
Retained earnings Retained earmings are that portion of profits which are eamed by a company but not distributed to stockholders in the form of dividends. These eamings are retained for various purposes like expansion activities, or funding any future plans
Calculate the ending balance of retained earmings Beginning balance retained eanings -Dividend Ending balance of retained earnings = Revenue -$5,000+S8,000-S1000 =$13,000 $1000 =$12,000
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