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KONIGIN
Nov 8, 2008, 06:05 PM
2 Questions
1)Find the amount of retained earnings for 2007
2) Find the amount of cash that is in the retained earnings account as of 2007

2007
cash revenue=$36,000
Cash Expense=$22,000
Cash Dividends=$1,000
pready
Nov 8, 2008, 06:22 PM
Subtract your expenses from your revenues. This is your Net inome. Next Subtract Divends paid and the result is Net Retained Earnings for the year.

Add the net retained earnings to your Retained Earnings Account. This is your total Retained Earnings.