Question
Please computate retained earnings
During 2009, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2008, Edgemont had assets of $350,000,liabilities of $80,000, and capital stock of 210,000. Edgemont paid a cash dividend of $25,000 in 2009. No additional stock was issued. Compute the retained earnings on December 31, 2008, and 2009
During 2009, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2008, Edgemont had assets of $350,000,liabilities of $80,000, and capital stock of 210,000. Edgemont paid a cash dividend of $25,000 in 2009. No additional stock was issued. Compute the retained earnings on December 31, 2008, and 2009
Answers
I’m student
Related Questions
I'm not sure how to work this oroblem. Can someone assist me. revenues of $230,000 and expenses, inc...
How do you calculate the 'Capital stock at the end of the year' with the following information?...
Income and retained earnings relationships: Assume that retained earnings increased by $375,000 from...
What is the key equation to remember regarding the income statement?
Net income = Revenues – Expe...