retained earnings computations

kmarie15 · #1 Nov 6, 2006, 04:47 PM

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.

coledebbie · Jul 8, 2007, 12:17 PM

Quote:

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



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