What Is the Amount of Retained Earnings on the Balance

question 31

Multiple Choice

What is the amount of Retained Earnings on the Balance Sheet at December 31, 2010?

• A) $100
• B) $2,300
• C) $3,900
• D) $1,700

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Definitions:

Cash Account

An account that records the amount of cash transactions a company engages in over a period.

Direct Labor Costs

The compensation and perks provided to workers directly engaged in manufacturing products or delivering services.

Cash Account

An account that records all transactions involving the cash of a company, including receipts and payments.

Raw Materials Inventory

Items and substances in stock that will be used in the manufacturing process to create goods and products.