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-   -   Edgemont Corporation Retained Earnings (https://www.askmehelpdesk.com/showthread.php?t=91181)

  • May 10, 2007, 09:13 AM
    luvloyal
    Edgemont Corporation Retained Earnings
    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.
  • May 10, 2007, 09:57 AM
    CaptainForest
    What do YOU think the answer is?
  • May 14, 2007, 03:25 AM
    Klinke
    Quote:
    Originally Posted by luvloyal
    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.
    $355,000

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