Using the partially completed worksheet below, calculate the amount of the consolidated closing balance of retained earnings? Net profit Retained earnings - opening Dividend declared Dividend paid Retained earnings - closing $496,450 $500,200 O $506,450 $516,450 Parent Subsidiary Adjustment Adjustment Consolidated 198,000 230,000 58,000 6,000 16,000 226,000 73,000 3,000 7,500 291,500 DR 5,800 CR 3,250 3,000 7,500 400,000 ?

Using the partially completed worksheet below, calculate the amount of the consolidated closing balance of retained earnings? Net profit Retained earnings - opening Dividend declared Dividend paid Retained earnings - closing $496,450 $500,200 O $506,450 $516,450 Parent Subsidiary Adjustment Adjustment Consolidated 198,000 230,000 58,000 6,000 16,000 226,000 73,000 3,000 7,500 291,500 DR 5,800 CR 3,250 3,000 7,500 400,000 ?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 98.1C

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