What should be the balance in retained earnings


On 12/31/09, the ABC Co. had Retained Earnings of $400,000. During 2010, dividends of  $3,000 were paid. There was a net income of $4,000 for the year 2010. What should be the balance  in Retained Earnings on the 12/31/10 Balance Sheet?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What should be the balance in retained earnings
Reference No:- TGS098940

Expected delivery within 24 Hours