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As of january 1st retained earnings has a credit balance

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Reference no: EM13615000

As of January 1st, retained earnings has a credit balance of21,800. During the year, dividends totaled 1,500, and thebusiness incurred a net loss of 24,000.
a. Calculate the balance of retained earnings as of the end ofthe year.
b. Assuming that there have been no recordings errors, will the balance sheet prepared at December balance?

Reference no: EM13615000

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