A corporation has the following account balances at December 31, 2019: Accounts Payable $2,500 Accounts Receivable...

 

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A corporation has the following account balances at December 31, 2019: Accounts Payable $2,500 Accounts Receivable 5,200 Advertising Expense 450 Cash 1,500 Common Stock 1,500 Dividends Paid 1,000 Retained Earnings (Jan. 1) 1,690 Service Revenue 4,500 Unused Supplies 200 Wages Expense 2,200 What is the ending balance of retained earnings? A corporation has the following account balances at December 31, 2019: Accounts Payable $2,500 Accounts Receivable 5,200 Advertising Expense 450 Cash 1,500 Common Stock 1,500 Dividends Paid 1,000 Retained Earnings (Jan. 1) 1,690 Service Revenue 4,500 Unused Supplies 200 Wages Expense 2,200 What is the ending balance of retained earnings?

Answer rating: 100% (QA)

Answer To calculate the ending balance of retained earnings we need to consider th... View the full answer