Following is selected financial information of Act First for the year ended December 31, 2010. Retained earnings,

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Following is selected financial information of Act First for the year ended December 31, 2010.

Retained earnings, Dec. 31, 2010 . . . . . . $10,500

Cash dividends . . . . . . . . . . . . . . . . . . . . . $ 2,000

Net income . . . . . . . . . . . . . . . . . . . . . . . . 7,000

Retained earnings, Dec. 31, 2009 . . . . . . 5,500

Required

Prepare the 2010 statement of retained earnings for Act First.

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Financial Accounting with IFRS Fold Out Primer

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Authors: John Wild

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Question Posted: Mar 18, 2015 09:29 AM

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Following is selected financial information of Act First for the year ended December 31, 2010. Retained earnings,

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Act First Statement of Retained Earnings For Year E...View the full answer

Financial Accounting with IFRS Fold Out Primer

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