Question

In 2014 ABC Company reported net income of $100,000. What would be the effect on retained earnings on ABC Company's balance sheet and on its 2015 income statement if it didn't record a closing entry?

Mar 3, 2011

Related Questions

Jenning inc. paid out total dividends equal to $ 11,124,200 in 2008. If Jennings reported Retained e... On December 10, 2014, Jennings, Inc. paid out total dividends of $450,000 (this was the only dividen... In 2014, Timmers, Inc. (a retail clothing company) sold 102,300 units of its product at an average p... . Jordan’s Jeans Company reported net income for 2014 of $871,800 and the company paid dividends of...