Explore BrainMass

Explore BrainMass

    Calculating Retained Earnings Balance

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    * Review exercise-calculate retained earnings
    From the following data:

    Retained earnings, December 31, 2011 $490,400
    Net decrease in total assets during 2011 74,800
    Net increase in accounts receivable in 2011 17,200
    Dividends declared and paid in 2011 67,200
    Proceeds from issuance of bonds during 2011 176,800
    Net loss for the year ended December 31, 2011 46,000

    Required:Calculate the Retained Earnings balance as of December 31, 2010. (Omit the "$" sign in your response).

    © BrainMass Inc. brainmass.com June 4, 2020, 3:30 am ad1c9bdddf

    Solution Summary

    This solution illustrates how to use knowledge of postings to the retained earnings account to find its beginning balance.