As of January 1, retained earnings had a credit balance of 35,600. During the year,...
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Accounting
As of January 1, retained earnings had a credit balance of 35,600. During the year, dividends totaled 1,000, and the business incurred a net loss of 49,800.
a. compute the balance of retained earnings as of the end of the year.
b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance?
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