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Social ScienceParrish 1-3 #1Please show me how to find the ending balance of Retained Earnings. Please use the equation and not a diagram to show and explain.Revenue $8000Dividends declared $1000RE 1/1 $5000RE 12/31 $ UNKOWN
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
Expert Answer
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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
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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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