Brief Exercise 1-5 (Exercise 3) – Calculate the Retained Earnings
Brief Exercise 1-5 (Exercise 3) – Calculate the Retained Earnings
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Question:Â At the beginning of the year, a company has retained earnings of $175,000. During the year, the company generates $110,000 of net income and distributes $10,000 in dividends.
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Retained earnings = profits that are retained in the business
Dividends = profits distributed to the owners
Net income = Net income (NI) is a company's total earnings (or profit)
Retained earnings = cumulative net income – cumulative dividends
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Calculate the company’s retained earnings at year end:
$________________ = retained earnings at year end
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Posted 11 Jul 2017 08:07 AM
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