What is the correct balance of Retained earnings on December 31, 2019?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.10E
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![The following data are taken from the ledger of PQR Co.
Date
Particulars
Debit
Credit
1/1/2017 Balance
6/30/2017 Dividends paid
12/31/2017 Netincome for 2017
2/7/2018 Premium in share capital
4/30/2018 Loss on sale of land
9/30/2018 Dividends paid
12/31/2018 Net income for 2018
12/31/2018 Revaluation surplus
7/1/2019 Gain on sale of treasury stock
12/31/2019 Net income 2019
80,600
25,000
42,500
10,000
5,000
20,000
5,800
40,000
1,600
33,700
Unrealized loss on FV OCI securities
3,400
What is the correct balance of Retained earnings on December 31, 2019?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a8a3a77-c78b-46da-8b20-7c0eb07efd05%2Ff25df5a8-7d31-419d-9e64-241677a7b056%2Fzzdrm1v_processed.png&w=3840&q=75)
Transcribed Image Text:The following data are taken from the ledger of PQR Co.
Date
Particulars
Debit
Credit
1/1/2017 Balance
6/30/2017 Dividends paid
12/31/2017 Netincome for 2017
2/7/2018 Premium in share capital
4/30/2018 Loss on sale of land
9/30/2018 Dividends paid
12/31/2018 Net income for 2018
12/31/2018 Revaluation surplus
7/1/2019 Gain on sale of treasury stock
12/31/2019 Net income 2019
80,600
25,000
42,500
10,000
5,000
20,000
5,800
40,000
1,600
33,700
Unrealized loss on FV OCI securities
3,400
What is the correct balance of Retained earnings on December 31, 2019?
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