Preparing a statement of retained earnings Kingston, Inc. had beginning retained earnings of $135,000 on January 1, 2018. During the year, Kingston declared and paid $85,000 of cash dividends and earned 375,000 net income. Prepare a statement of retained earnings for Kingston, Inc. for the year ending December 31, 2018.
Preparing a statement of retained earnings Kingston, Inc. had beginning retained earnings of $135,000 on January 1, 2018. During the year, Kingston declared and paid $85,000 of cash dividends and earned 375,000 net income. Prepare a statement of retained earnings for Kingston, Inc. for the year ending December 31, 2018.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter1: Accounting As A Form Of Communication
Section: Chapter Questions
Problem 1.11E: Statement of Retained Earnings Ace Corporation has been in business for many years. Retained...
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Preparing a statement of
Kingston, Inc. had beginning retained earnings of $135,000 on January 1, 2018. During the year, Kingston declared and paid $85,000 of cash dividends and earned 375,000 net income. Prepare a statement of retained earnings for Kingston, Inc. for the year ending December 31, 2018.
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