Accounting Equation:

The ending retained earnings ($336,150) is calculated by adding net income ($239,000) to the beginning retained earnings ($146,150), and then subtracting dividends ($49,000). “In Business Insights” “Automating the Budgeting Process” (see page 318) AGENDA: PROFIT PLANNING (BUDGETING) A. Purposes and overview of budgeting. ................
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