Examlex
The income statement for Hudson Company reported net income of $345,000 for the year ended December 31 before considering the following:
During the year, the company purchased trading securities.
At year-end, the fair value of the investment portfolio was $23,000 less than cost.
The balance of Retained Earnings was $823,000 on January 1.
Hudson Company paid $43,000 in cash dividends during the year.Calculate the balance of Retained Earnings on December 31.
Accountable
Being responsible for one's actions and the outcomes of those actions, often involving an obligation to report, explain, or justify them.
Good Management
Refers to the process of effectively planning, organizing, leading, and controlling resources and tasks to achieve organizational goals.
Learning
A process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, and preferences.
Equal Authority and Responsibility
A principle emphasizing that individuals with authority also bear an equivalent level of responsibility for their actions and decisions.
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