The change in retained earnings from the beginning of the year to the end of the year

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The change in retained earnings from the beginning of the year to the end of the year is the result of net earnings minus dividends for the year. These changes are part of the information presented on the statement of changes in equity.

Required
Calculate the missing amounts in the reconciliation of retained earnings in each of the following independent situations:

D Retained earnings, Dec. 31, 2019 Net earnings Dividends declared and paid Retained earnings, Dec. 31, 2020 $ 930,000 2

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Understanding Financial Accounting

ISBN: 9781119406921

2nd Canadian Edition

Authors: Christopher D. Burnley

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Question Posted: Jul 19, 2019 07:42 AM

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The change in retained earnings from the beginning of the year to the end of the year

Question:

D Retained earnings, Dec. 31, 2019 Net earnings Dividends declared and paid Retained earnings, Dec. 31, 2020 $ 930,000 290,000 (3) 1,080,000 $420,000 (2) 50,000 530,000 (1) 550,000 225,000 1,800,000 $100,000 40,000 10,000 (4)

Step by Step Answer:

1 1800000 550000 225000 1475000 2 530000 420000 50000 160000 3 930000 2...View the full answer

Understanding Financial Accounting

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