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Case #6-Understanding the accumulation of retained earnings over time The following is a schedule of selected accounts and dividends for a particular company from 20x6-20x8. Revenues Expenses Gains Losses Dividends declared 20x6 $55,000 20x7 $70,000 20x8 $77,000 $20,000 $80,000 $50,000 $550 $400 $22,000 $2,000 0 If retained earnings are $66,000 at 1/1/x6, then retained earnings for 12/31/x8 must be what amount?

Case #6-Understanding the accumulation of retained earnings over time The following is a schedule of selected accounts and dividends for a particular company from 20x6-20x8. Revenues Expenses Gains Losses Dividends declared 20x6 $55,000 20x7 $70,000 20x8 $77,000 $20,000 $80,000 $50,000 $550 $400 $22,000 $2,000 0 If retained earnings are $66,000 at 1/1/x6, then retained earnings for 12/31/x8 must be what amount?

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.6.1MBA
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Case #6-Understanding the accumulation of retained earnings over time The following is a schedule of selected accounts and dividends for a particular company from 20x6-20x8. Revenues Expenses Gains Losses Dividends declared 20x6 $55,000 20x7 $70,000 20x8 $77,000 $20,000 $80,000 $50,000 $550 $400 $22,000 $2,000 0 If retained earnings are $66,000 at 1/1/x6, then retained earnings for 12/31/x8 must be what amount?
Transcribed Image Text:Case #6-Understanding the accumulation of retained earnings over time The following is a schedule of selected accounts and dividends for a particular company from 20x6-20x8. Revenues Expenses Gains Losses Dividends declared 20x6 $55,000 20x7 $70,000 20x8 $77,000 $20,000 $80,000 $50,000 $550 $400 $22,000 $2,000 0 If retained earnings are $66,000 at 1/1/x6, then retained earnings for 12/31/x8 must be what amount?
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