Retained Earnings and Net Income Assignment

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    Retained Earnings and Net Income Assignment

    Retained Earnings and Net Income Assignment Determining Retained Earnings and Net Income The following information appears in the records of Poco Corporation at year-end: Accounts Receivable $42,000 Retained Earnings $? Accounts Payable 21,000 Supplies 30,000 Cash 18,000 Equipment, net 105,000 Common Stock 139,000 a. Calculate the amount of retained earnings at year-end. $ b. If the amount of retained earnings at the beginning of the year was $25,000, and $10,000 in dividends is paid during the year, calculate net income for the year. Retained Earnings and Net Income Assignment Get Accounting homework help today from Contentmart. 

    Retained Earnings and Net Income Assignment

    Determining Retained Earnings and Net Income The following information appears in the records of Poco Corporation at year-end: Accounts Receivable $42,000 Retained Earnings $? Accounts Payable 21,000 Supplies 30,000 Cash 18,000 Equipment, net 105,000 Common Stock 139,000 a. Calculate the amount of retained earnings at year-end. $ b. If the amount of retained earnings at the beginning of the year was $25,000, and $10,000 in dividends is paid during the year, calculate net income for the year.

    Retained Earnings and Net Income Assignment

    Retained Earnings and Net Income Assignment

    Get Accounting homework help today from Contentmart.