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Calculate for beginning and ending retained earnings

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Reference no: EM132484537

Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending retained earnings to answer the rest of the questions. Use a minus sign or parentheses for any net loss.

                                 Assets        Liabilities
Beginning of Year: $26,000        $19,000
End of Year: $62,000               $26,000

Question 1) What is the retained earnings at the beginning of the year?

Question 2) What is the retained earnings at the end of the year?

Reference no: EM132484537

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