During 2017, Its First Year of Operations, Jane's Bakery Had

question 52

Multiple Choice

During 2017, its first year of operations, Jane's Bakery had revenues of $130,000 and expenses of $66,000. The business paid cash dividends of $36,000. What is the balance in Retained Earnings at December 31, 2017?

• A)$0
• B)$36,000 debit
• C)$28,000 credit
• D)$64,000 credit

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Definitions:

Fair Housing Act

The Fair Housing Act is a federal law that prohibits discrimination in the buying, selling, renting, or financing of housing based on race, religion, national origin, sex, disability, or familial status.

Civil Rights Act

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Transfer Title

The process of legally transferring ownership of property from one party to another.

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