Solved: Why is the retained earnings statement prepare, Managerial Accounting

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Why is the retained earnings statement prepare

Response to the following problem:

Financial information related to Lost Trail Company, a corporation, for the month ended June 30, 2012, is as follows.

Net income for June$125,000

Dividends 18,000

Retained earnings, June 1, 2012 375,000

a. Prepare a retained earnings statement for the month ended June 30, 2012.

b. Why is the retained earnings statement prepared before the June 30, 2012 balance sheet?

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Managerial Accounting: Why is the retained earnings statement prepare

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Managerial Accounting: Why is the retained earnings statement prepare

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