Tiptoe Shoes,had annual revenues of $185,000,expenses of $103,700,and paid dividends of $18,000 during the current year.The retained earnings account before closing had a balance of $297,000.The ending retained earnings balance after closing is:

Question

Quizplus · Accepted Answer

Beginning Retained earnings + Revenues - Expenses - Dividends = Ending Retained earnings
$297,000 + $185,000 - $103,700 - $18,000 = $360,300

Tiptoe Shoes,had Annual Revenues of $185,000,expenses of $103,700,and Paid Dividends