George's Gems' December 31, 2021 balance sheet shows retained earnings of $736,234. Its 2022 budgeted income statement
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Question:
George's Gems' December 31, 2021 balance sheet shows retained earnings of $736,234. Its 2022 budgeted income statement shows net income of $106,235. The cash budget for 2022 shows financing of $20,000. Determine the retained earnings balance on George's December 31, 2022 budgeted balance sheet.
Related Book For
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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