Asked Oct 27, 2019

Please solve and explain in steps how you came to your answer.

Revenues for 2028 $5000

Dividends declared in 2028 ???

Expenses for 2028 $4000

January 1 retained earnings balance $8000

December 31 retained earnings balance $3000


Expert Answer

Step 1

Statement of Retained Earning is a financial statement that represents the changes to the retained earnings for the company over a particular period.

Step 2



Revenue = $5,000

Expense = $4,000

Jan 1st balance  = $8,000

December 31st balance = $3,000

Step 3

Computation of Retained Ear...

Computation of Retained Earnings
Opening Balance
Add: Income for the year
Less: Dividend paid
Closing Balance

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Computation of Retained Earnings Particulars Opening Balance Add: Income for the year Less: Dividend paid Amount XXX XXX (XXX Closing Balance XXX


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