Asked Nov 14, 2019

Parrish 1-3 #5

Please find the missing amount listed below. Please provide the equation and method used to find this amount. Please be specific and thorough in your explanation.

Revenue $ Unknown
Dividends declared $3000

Expenses $6000

RE 1/1 $8000

RE 12/31 $9000


Expert Answer

Step 1

Statement of retained earnings: This statement reports the beginning retained earnings and all the changes which led to ending retained earnings. Net income (revenue &...

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