On June 1, Acme Inc. has Retained Earnings of $38,089. Revenues for June were $7,037. Expenses for June were $2,227. In June, the company paid out a total of $992 in dividends to its shareholders. What is the value of Retained Earnings on June 30?

On June 1, Acme Inc. has Retained Earnings of $38,089. Revenues for June were $7,037. Expenses for June were $2,227. In June, the company paid out a total of $992 in dividends to its shareholders. What is the value of Retained Earnings on June 30?

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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Question

What is the value of retained earnings on June 30 for these financial accounting question?

On June 1, Acme Inc. has Retained Earnings of $38,089.
Revenues for June were $7,037. Expenses for June were
$2,227. In June, the company paid out a total of $992 in
dividends to its shareholders. What is the value of
Retained Earnings on June 30?

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