Required From the above data Calculate the retained earning

Required From the above data, Calculate the retained earning balance asa a December 31,2013 amounts shoulds be indicated by a minus sign

Solution

Note:Cost of equipment, decrease in cash balance and decreasein long term debt will not have an impact on retained earning.

Retained eanring as on 31st December,2013(in $)

SNO	Particulars	Amount
A	Retained earning as on 31st Dec,2012	308,100
B	Less:Net loss	(4,300)
C	Less:Dividend declared and paid in 2013	(17,700)
D	Retained earning as on 31st December,2013	286,100