grizzly company had retained earnings at december 31, 2022 of $300,000. during 2023, the company had revenues of $600,000 and expenses of $525,000, and the company declared and paid dividends of $16,500. retained earnings on the balance sheet as of december 31, 2023 will be:

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08-11-2022
Business

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grizzly company had retained earnings at december 31, 2022 of $300,000. during 2023, the company had revenues of $600,000 and expenses of $525,000, and the company declared and paid dividends of $16,500. retained earnings on the balance sheet as of december 31, 2023 will be:

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-11-13T12:47:53+01:00

Retained earnings on the balance sheet as of december 31, 2023 will be 358,500.

Retained earnings are a company's current profits minus any dividends or other distributions made to shareholders. Every time an accounting entry is made that has an effect on a revenue or expense account, this sum is modified. A substantial retained earnings balance indicates a stable financial situation for the company.

In order to use its retained earnings to finance more business expansion in areas like working capital, capital expenditures, acquisitions, research & development, and marketing, a rising company typically avoids paying dividends.

Beginning retained earnings, net income, and ending retained earnings are added to determine ending retained earnings, which is then subtracted from dividends paid.

= 300,0000 + (600,000-525,000) - 16,500

= 300,000 + 75,000 - 16,500

= 358,500

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