E321A similar to Question Help Beta Guard Inc began the yea

E3-21A (similar to) Question Help * Beta Guard, Inc., began the year with $13,000 of common stock and $24,000 of retained eamings. On July 5, investors bought $14,000 of additional stock in the business. On October 22, the business purchased land valued at S60,000. The income statement for the year ended December 31, 2016, reported a net loss of S6,000. During this fiscal year, the business paid $600 each month for dividends. Read the requirements Requirement 1. Prepare Beta Guard\'s statement of retained earnings for the year ended December 31, 2016. (If a box is not used in the statement, eave the box empty; do not select a label or enter a zero.) Complete the statement of retained earnings. Beta Guard, Inc. Statement of Retained Earnings For the Year Ended December 31, 2016 Less:

Solution

Statement of retained Earning :-

Particulars	Amount($)	Amount($)
Beginning Balance		24000
Less : Loss for the year	6000
Less : Dividend Paid ($600*12)	7200	(13200)
Ending Balance		10800