Solution-Compute the balance of retained earnings

Compute the balance of retained earnings

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Reference no: EM132777302

Question - At December 31, 2018, Laurier Limited, had the following shareholders' equity:

Common shares, 75,000 issued $300,000

Retained earnings

During 2019, the following events occurred:

On February 1, the company declared and paid a $0.50 cash dividend.

On June 10, the company split the common shares two for one.

On December 1, the company declared and paid a $0.40 cash dividend.

At December 31, the company reported a loss of $106,000 for the year.

Required - At December 31, 2019, compute the balance of retained earnings?

Reference no: EM132777302

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Compute the balance of retained earnings

Reference no: EM132777302

Reference no: EM132777302

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