Prior to closing,Syracuse Company's accounting records showed the following balances:

After closing,what is the balance of the Retained Earnings account?

Name: Prior to closing,Syracuse Company's accounting records showed the following balances: After closing,what is the balance of the Retained Earnings account?
Brand: Quizplus
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Question

Prior to closing,Syracuse Company's accounting records showed the following balances:

After closing,what is the balance of the Retained Earnings account?

Quizplus · Accepted Answer

Ending balance of retained earnings = Beginning balance + Net income - Dividends
Ending balance of retained earnings = $16,800 + ($21,750 + $1,800 - $12,300 - $3,450 - $900)- $2,700 = $21,000

Prior to Closing,Syracuse Company's Accounting Records Showed the Following Balances