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What is the value of Retained Earnings on June

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Question - On June 1 Acme Inc. has Retained Earnings of $48,844. In June the firm sold $10,924 in additional capital stock for cash. In June the firm obtained an interest free loan of $18,559 from one of the stockholders. Revenues for June were $17,580. Expenses for June were $11,516. In June the company paid out a total of $1,489 in dividends to its shareholders. What is the value of Retained Earnings on June 30?

Reference no: EM132723362

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