Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Join our Q&A platform to connect with experts dedicated to providing precise answers to your questions in different areas. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

The following information is available for Cubic Company before closing the accounts. After all closing entries are made, what will be the balance in the Retained earnings account

Sagot :

Answer: See explanation

Explanation:

Your question isn't complete but here are other information that I found online:

Net income = $112700

Retained earnings = $108000

Dividend = $40000

The balance in the Retained earnings account will be calculated as:

Retained earnings = $108000

Add: Net income = $112700

Less: Dividend = $40000

Balance of retained earnings = $180700

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.