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In the statement of stockholders' equity, Retained Earnings had a beginning balance of $60,000. During the period, the company reports a net loss of $10,000 and net cash outflows of $15,000. The ending balance in the Retained Earnings account is:__________-

Respuesta :

Answer:

$50,000

Explanation:

Given that,

Retained Earnings had a beginning balance = $60,000

Net loss = $10,000

Net cash outflows = $15,000

Ending balance in the Retained Earnings account:

= Retained Earnings had a beginning balance + Net income/(Loss)

= $60,000 + (-$10,000)

= $50,000

Therefore, the ending balance in the Retained Earnings account is $50,000.

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