High Step Shoes,had Annual Revenues of $185,000,expenses of $103,700,and Paid

question 265

Multiple Choice

High Step Shoes,had annual revenues of $185,000,expenses of $103,700,and paid dividends of $18,000 during the current year.The retained earnings account before closing had a balance of $297,000.The ending retained earnings balance after closing is:

• A)$185,000
• B)$63,300
• C)$81,300
• D)$360,300
• E)$378,300

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Definitions:

Areas of Concern

Specific issues or problems that need attention or resolution in a given context.

Professionalism

The conduct, aims, or qualities that characterize or mark a profession or a professional person.

Mini Skirt

A very short skirt ending well above the knees.

Costume Jewelry

Fashion accessories made from non-precious materials intended to complement a particular outfit or style rather than serve as long-term investments.