On July 1, Archer Ltd. has retained earnings of $45,320. Revenues for July were $8,250. Expenses for July were $3,140. In July, the company paid out a total of $1,120 in dividends to its shareholders. What is the value of retained earnings on July 31?

On July 1, Archer Ltd. has retained earnings of $45,320. Revenues for July were $8,250. Expenses for July were $3,140. In July, the company paid out a total of $1,120 in dividends to its shareholders. What is the value of retained earnings on July 31?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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What is the value of retained earnings on July 31?

On July 1, Archer Ltd. has retained earnings
of $45,320. Revenues for July were $8,250.
Expenses for July were $3,140. In July, the
company paid out a total of $1,120 in
dividends to its shareholders.
What is the value of retained earnings on
July 31?

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