Matrix Company had retained earnings of 113,560 at the beginning of 2020. During the year the company
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Matrix Company had retained earnings of £113,560 at the beginning of 2020. During the year the company had total revenue of £1,060,000, total expenses (including taxes) of £990,000, bought property and equipment for £680,000, and paid cash dividends of £24,000. Compute Matrix Company’s retained earnings at the end of 2020.
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The formula for calculating retained earnings is as follows Retained Ea...View the full answer
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Introduction To Management Accounting
ISBN: 9781292412566
17th Edition, Global Edition
Authors: Charles Horngren, Gary L Sundem, Dave Burgstahler
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