On January 1,Year 1,a company's balance in retained earnings was $275,000.During Year 1,the company earned net income of $23,500 and paid $11,200 in dividends.Calculate the retained earnings balance at December 31,Year 1.

Name: On January 1,Year 1,a company's balance in retained earnings was $275,000.During Year 1,the company earned net income of $23,500 and paid $11,200 in dividends.Calculate the retained earnings balance at December 31,Year 1.
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Quizplus · Accepted Answer

$275,000 + $23,500 F1F1F1S1-F1F1F10 $11,200 = $287,300

On January 1,Year 1,a Company's Balance in Retained Earnings Was