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Title: A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the ... Post by: H3Ko on Aug 29, 2016 A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $110,000. During the year, Sales Revenue amounted to $80,000, Sales Returns and Allowances were $2,000, Sales Discounts were $4,000, Cost of Goods Sold was $40,000, and all other expenses totaled $12,000. The company declared and paid $25,000 as dividends. The closing balance of Retained Earnings would be ________.
A) $107,000 B) $110,000 C) $111,000 D) $98,000 Title: Re: A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the ... Post by: Mrgo-breed on Aug 29, 2016 Content hidden
Title: Re: A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the ... Post by: H3Ko on Oct 12, 2016 I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
Title: Re: A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the ... Post by: Mrgo-breed on Oct 16, 2016 Excellent :)
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