Bears Corporation had the following accounts and balances in its general ledger at December 31 ,20X9
Cash $45,000
Accounts Payable $80,000
Property,Plant& Equipment $200,000
Long-Term Debt $60,000
Capital Stock $150,000
Accounts Receivable $90,000
Retained Earnings ?
Inventory $75,000
Question:
What’s Bear’s Retained earnings balance at the end of 20X9??
I came up with this can you tell me if I'm right...
A= L+SE+RE
410,000=140,000+150,000+RE
=290,000+RE
410,000-290,000=120,000
I:e Retained Earnings is $120,000.00
