A Company Had a Beginning Balance in Retained Earnings of $50,000.During

question 58

Multiple Choice

A company had a beginning balance in retained earnings of $50,000.During the year the company earned net income of $85,000 and paid a $15,000 cash dividend.The company also declared a 2% stock dividend, which resulted in the issue of 10,000 new shares.At the time of the stock dividend, the shares were selling at a market price of $3.What is the balance in retained earnings at the end of the year?

• A)$40,000
• B)$90,000
• C)$120,000
• D)$135,000

Recognize the role of various methods (surveys, self-reports, observations) in data collection.

Comprehend the continuum model of psychopathology and its implications for research.

Identify and understand the importance of multimethod approaches in research.

Understand the rationale and implications of longitudinal and cross-sectional studies in psychological research.

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Definitions:

Direct Labor

Direct labor refers to the work done by employees that is directly involved in the production of goods or the provision of services.

Variance

A measure of the dispersion or spread of a set of data points around their mean value.

Direct Materials Quantity Variance

The difference between the actual quantity of direct materials used in production and the standard quantity expected to be used.

Standard Labor Hours

The predetermined amount of time expected to be required to complete a task or produce a unit of goods under normal conditions.