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    Financial and Managerial Accounting Study Set 5
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    Exam 1: Introduction to Accounting and Business
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    Given the Following: Beginning Retained Earnings $ 70,000
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Given the Following: Beginning Retained Earnings $ 70,000

Question 104

Question 104

Essay

Given the following: Beginning retained earnings $ 70,000
Ending retained earnings $ 48,000
Dividends declared and paid $ 21,000
Calculate net income or net loss.

Correct Answer:

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