Brantly, Inc. had beginning retained earnings of $140,000 on January 1, 2024. During the year, Brantly declared and paid $80,000 of cash dividends and earned $70,000 of net income. Prepare a statement of retained earnings for Brantly, Inc. for the year ending December 31, 2024. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (Check your spelling carefully and do not abbreviate.) Brantly, Inc. Statement of Retained Earnings Year Ended December 31, 2024
Brantly, Inc. had beginning retained earnings of $140,000 on January 1, 2024. During the year, Brantly declared and paid $80,000 of cash dividends and earned $70,000 of net income. Prepare a statement of retained earnings for Brantly, Inc. for the year ending December 31, 2024. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (Check your spelling carefully and do not abbreviate.) Brantly, Inc. Statement of Retained Earnings Year Ended December 31, 2024
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Brantly,
Inc. had beginning $140,000
on
January
1,
2024.
During the year,
Brantly
declared and paid
$80,000
of cash dividends and earned
$70,000
of net income. Prepare a statement of retained earnings for
Brantly,
Inc. for the year ending
December
31,
2024.
Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (Check your spelling carefully and do not abbreviate.)
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Brantly, Inc.
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Statement of Retained Earnings
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Year Ended December 31, 2024
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