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Retained earnings computations

Asked Nov 6, 2006, 05:47 PM — 1 Answer
During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006.

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coledebbie Posts: 3, Reputation: -1
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Jul 8, 2007, 01:17 PM
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Originally Posted by kmarie15
During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006.
During 2006, Edgemont Corporation had revenues of $230000 and expenses, including income taxes, of $190000. On December 31, 2005, Edgemont had
colleensheehey (Jul 5, 2010 07:24 AM):   Source:
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