During the year, Lawson Company recorded revenues of $800,000, recorded expenses of $570,000, issued an additional $50,000 of common stock, and paid dividends of $40,000. Its ending retained earnings is 440,000. What was the company beginning retained earnings?

Question

Nevaeh

Business

22 April, 08:34

During the year, Lawson Company recorded revenues of $800,000, recorded expenses of $570,000, issued an additional $50,000 of common stock, and paid dividends of $40,000. Its ending retained earnings is 440,000. What was the company beginning retained earnings?

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Answers (1)

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Brycen Bowman · Answer 1

What was the company beginning retained earnings? $200000

Explanation:

Begining retained earnings 200000

Income 230000

Paid dividends - 40000

Addition common stocks 50000

Ending retained earnings 440000