Question

During the year, Lawson Company recorded revenues of $800,000, recorded expenses of $570,000, issued an additional $50,000 of common stock, and paid dividends of $40,000. Its ending retained earnings is 440,000. What was the company beginning retained earnings?

Answer 1

What was the company beginning retained earnings? $200000

Step-by-step explanation:

Begining retained earnings 200000

Income 230000

Paid dividends -40000

Addition common stocks 50000

Ending retained earnings 440000