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snowie_88
Jan 22, 2011, 12:37 PM
Need the answer to find the unknown when I have these numbers
Assets 435,000
Liabilities ?
Pd n capital 59,000
Retained earnings 186,000
Net income 110,000
Dividends declared and pd ?
Retained earnings 124,000

Just Looking
Jan 22, 2011, 12:43 PM
You have two numbers for retained earnings. Are these at different dates? Are they given as beginning and ending retained earnings?

The things to think about to solve this:

Assets = Liability + Owners Equity

Ending Retained Earnings = Beginning Retained Earnings + net income - dividends declared

If you will attempt to solve the problem, we can check it for you. Thanks.