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27 June, 15:24

Graff Company had the following data for the month of November: Retained Earnings, November 1 = $10,000 Net Income = $2,000 Dividends = $1,200 What is the amount of Retained Earnings on November 30 for Graff Company?

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  1. 27 June, 16:43
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    The retained earnings, November 30 is $10800.

    Explanation:

    Retained earnings, November 30 = Retained Earnings, November 1 + Net income - Dividends

    = $10,000 + $2,000 - $1,200

    = $ 10800

    Therefore, the retained earnings, November 30 is $10800.
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