On January 1 , 2 0 2 4 , Shelley Inc. had a balance of $ 6

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Question:

On January

1, 2024,

Shelley Inc. had a balance of $

625, 000

in its Retained Earnings account. During the year, it declared $

175, 000

of cash dividends and paid $

100, 000 .

Its profit after tax in

2024

was $

210, 000 .

How much would the company record to close dividends to retained earnings?

Posted Date: May 07, 2024 01:42 AM

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On January 1 , 2 0 2 4 , Shelley Inc. had a balance of $ 6

Question:

Expert Answer:

To record the closing of dividends to retained earnings we n... View the full answer

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