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[SOLVED]The Andrews company currently has the following balances in their equity accounts: Common Stock $14,081 Retained earnings $101,016

The Andrews company currently has the following balances in their equity accounts: Common Stock $14,081 Retained earnings $101,016 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year?

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  •  $60,381
  •  $131,097
  •  $131,316
  •  $115,097



honeyd


16-03-21 | 14:37:54

new retained earning=old retained earning+net income-dividends paid (assume no retained earnings were used in equipment purchase or investment)
Retained earning=101016+46300-16000
=131316

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