A Company Had the Following Information The Ending Balance in the Retained Earnings Account Is_____

question 152

Multiple Choice

A company had the following information: $$\begin{array} { l r l r } \text { Beginning retained earnings }& \$ 45,000 & \text { Sales } & \$ 194,000 \\\text { Depreciation expense } & 7,000 & \text { Cash } & 11,000 \\\text { Cost of goods sold } & 102,000 & \text { Dividends } & 15,000 \\\text { Paid-in capital } & 26,000 & \text { Wage expense } & 40,000 \\\text { Rent expense } & 12,000 & \text { Prepaid rent } & 2,000\end{array}$$ The ending balance in the Retained Earnings account is_____.

• A)$61,000
• B)$63,000
• C)$65,000
• D)$74,000

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Definitions:

Traditional Development

A linear and sequential approach to software development that typically follows a set of predefined phases such as requirements, design, implementation, testing, and maintenance.

Agile Development

A software development methodology based on iterative progress, where requirements and solutions evolve through collaborative effort of self-organizing cross-functional teams.

Rapid Application Development

A software development approach focused on quick prototyping, iterative delivery, and less emphasis on planning and more on adaptive processes.

Prototyping

The process of creating a preliminary model of a product to test and validate its design and functionality before final production.