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-   -   Finding the unknown when you have other info (https://www.askmehelpdesk.com/showthread.php?t=546784)

  • Jan 22, 2011, 12:37 PM
    snowie_88
    Finding the unknown when you have other info
    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
  • Jan 22, 2011, 12:43 PM
    Just Looking

    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.

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