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    snowie_88's Avatar
    snowie_88 Posts: 1, Reputation: 1
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    #1

    Jan 22, 2011, 12:37 PM
    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
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    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.
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