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Question
If a company has $450,000 of retained earnings, what exactly does that mean? Could the board of directors declare a dividend of $450,000 and then pay it say in the next 45 days?
The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.
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On January 1, Year 3, Garnet Corporation purchased equipment with a list price of $85,000. What amount should Garnet record as the cost of the equipment?
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