Digman Co. had retained earnings of $400,000 on January 1 st....

60.1K

Verified Solution

Question

Accounting

image
Digman Co. had retained earnings of $400,000 on January 1 st. It made a net income of $200,000 in the year \& paid out $100,000 in dividends to its common shareholders. The balance of retained earnings at December 31 st would be

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students