一道英文会计问题关于未分配利润的,急等!MindenCorporationwasincorporatedonAugust1,2015,byfiveshareholderswhoeachinvested$100,000incashinexchangeforcommonshares.Minden’syearendisJuly31.Initsfirstyearofbus

Question

一道英文会计问题关于未分配利润的,急等!
Minden Corporation was incorporated on August 1,2015,by five shareholders who each invested $100,000 in cash in exchange for common shares.Minden’s year end is July 31.In its first year of business,Minden had net income of $119,500.For its years ended July 31,2017 and 2018,its second and third years of operation,Minden reported net income of $212,000 and $291,000,respectively.In its first year,Minden didn’t pay any dividends,but in fiscal 2017 it paid $55,000 in dividends and in 2018 it paid $175,000 in dividends.
Required:
Calculate Minden’s retained earnings on July 31,2018

Answer 1

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