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
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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
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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