On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues for February totaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800 was 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 minus sign.) Retained Earnings Balance, February 1, 2019 Revenues Expenses Dividends Balance, February 28, 2019 $ 0 0

On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues for February totaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800 was 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 minus sign.) Retained Earnings Balance, February 1, 2019 Revenues Expenses Dividends Balance, February 28, 2019 $ 0 0

Name: On February 1, 2019, the balance of the retained earnings account of
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Description: On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $441,000. Revenues for Februarytotaled $86,100, of which $80,500 was collected in cash. Expenses for February totaled $78,600, of which $64,800 was paid

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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