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Yulan, Inc has beginning Retained Earnings of $33,000, ending Retained Earnings of $38,500, and net income of $20,500. What was the amount of dividends declared during the year?

Respuesta :

Answer:

$15,000

Explanation:

The retained earnings account balance changes as a result of the payment of dividend and the addition of the income or loss for the year.

Given that

Beginning Retained Earnings = $33,000

Ending Retained Earnings = $38,500, and

net income = $20,500

$33,000 + $20,500 - dividend declared = $38,500

dividend declared = $33,000 + $20,500 - $38,500

= $15,000

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