Exercise 4-13 (Algo) Calculate retained earnings LO 3On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues forFebruary totaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800was paid in cash. Dividends declared and paid during February were $7,200.Required:Calculate the retained earnings balance at February 28, 2019. (Amounts to be deducted should be indicated with a minussign.)Answer is complete but not entirely correct.Retained EarningsBalance, February 1, 2019$ 441,000Revenues86,100Expenses78,600164,700Dividends7,200Balance, February 28, 2019$ 612,900

February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues for ruary totaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800 paid in cash. Dividends declared and paid during February were $7,200.

February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues for ruary totaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800 paid in cash. Dividends declared and paid during February were $7,200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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