What should be the amount stated as Ending Retained Earnings on the Statement of Retained Earnings given the following information? Beginning Retained Earnings: $100 Revenue:     $692 Expense:      $370 Dividends:    $87

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is