Solved: The retained earnings account had a credit balance of 10000, Accounting Basics

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The retained earnings account had a credit balance of 10000

Problem

The Retained Earnings account had a credit balance of $10,000 before closing on December 31; net income for the year was $25,000 , and dividends were $2,250. What is the ending credit balance on the statement of the Retained Earnings account?

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Accounting Basics: The retained earnings account had a credit balance of 10000

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Accounting Basics: The retained earnings account had a credit balance of 10000

Reference No:- TGS02589244

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