The following selected amounts are available for Skysong, Inc

Accounting Nov 16, 2020

The following selected amounts are available for Skysong, Inc. Retained earnings (beginning) $3200 Net loss 170 Cash dividends declared 175 Stock dividends declared 180 What is its ending Retained Earnings balance? O $2855. O $2930. O $2675. O $3030.

Expert Solution

Answer:$2675

Ending Retained earnings balance = Retained earnings beginning - Net Loss - Cash dividends declared - Stock dividends declared = $3200 - $170 - $175 - $180 = $2675

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