Exam instructi Question 28 (of 34) Save & Exit 8.00 points On February 1.2016, t

Question

Exam instructi Question 28 (of 34) Save & Exit 8.00 points On February 1.2016, the balance of the retained earnings account of Blue Power Corporation was $693,000. Revenues for February totaled $135,300, of which $126,500 was collected in cash Expenses for February totaled $65,500, of which $54,000 was paid in cash. Dividends declared and paid during February were $6,000 Required: Calculate the retained eanings balance at February 28, 2016. (Amounts to be deducted should be indicated with a minus sign.) Balance, February 1.2016 Balance, February 28, 2018 Reterences

Explanation / Answer

RETAINED EARNINGS STATEMENT: Balance Feb 1 2016 693000 Revenues 135300 Expense 65500 69,800 Dividends 6,000 balance Feb28, 2016 756,800

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