Mathematics, 14.02.2022 03:30 caitalymom
Exercise 2-11 (Algo) Calculate retained earnings LO 2, 3
Retained earnings, December 31, 2018 $ 313,600
Cost of equipment purchased during 2019 50,000
Net loss for the year ended December 31, 2019 4,850
Dividends declared and paid in 2019 17,100
Decrease in cash balance from January 1, 2019 to December 31, 2019 14,200
Decrease in long-term debt in 2019 13,900
Required:
From the above data, calculate the retained earnings balance as of December 31, 2019. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Answers: 3
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Exercise 2-11 (Algo) Calculate retained earnings LO 2, 3
Retained earnings, December 31, 2018 $ 31...
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