Problemcolumbia construction company earned 256320 during, Ask an Expert

Finance

Problem:

Columbia Construction Company earned $256,320 during the year ended June 30, 2011. After paying out $225,794 in dividends, the balance went into retained earnings.

Required:

Question: If the firm's total retained earnings were $888,107, what was the retained earnings on its balance sheet on July 1, 2010?

Note: Please show how to work it out.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91162073

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