Laplace Company had retained earnings of $56,780 at the beginning of 2013. During the year the company
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Laplace Company had retained earnings of $56,780 at the beginning of 2013. During the year the company had total revenues of $530,000, total expenses (including taxes) of $495,000, bought property and equipment for $340,000, and paid cash dividends of $12,000. Compute Laplace Company’s retained earnings at the end of 2013.
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From the income statement we determine the net income Total revenues 530000 ...View the full answer
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Related Book For
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
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